Vietnam to rank among top 15 Asian economies in 2022
Vietnam is anticipated to be placed among the top 15 with the largest GDP based on purchasing power parity (PPP) in Asia this year, according to the latest projections made by the International Monetary Fund (IMF).
China is forecast to become the economy with the largest GDP by purchasing power parity (PPP) in Asia, followed by India, Japan, Indonesia, the Republic of Korea, Thailand, Vietnam, Philippines, and Malaysia.
Elsewhere in Southeast Asia, Indonesia is projected to record the leading GDP (PPP) scale among regional countries, reaching approximately US$3.995 trillion this year.
Meanwhile, Thailand and Vietnam are set to rank second and third with GDP forecast reaching roughly US$1.476 trillion and US$1.278 trillion, respectively.
According to the IMF’s forecast, Vietnamese GDP (PPP) this year is likely to increase by US$144.04 billion compared to 2021, while Indonesia is poised to record higher growth than Vietnam with GDP (PPP) inching up by US$429 billion.
Other regional countries are projected to witness slower improvements in GDP, including the Philippines, up US$132.76 billion, Thailand, up US$132 billion, Malaysia, up US$118.75 billion, Singapore, up US$66.53 billion, Myanmar, up US$19.04 billion, Cambodia, up US$9.2 billion, Laos, up US$6 billion, and Brunei, up US$3.7 billion.
GDP (PPP) is typically used by international organisations to accurately reflect a country’s development. Along with that, it will partly reflect the overall quality of life of people in a specific area.