Vietnamese GDP set to rank third in ASEAN by 2027

Vietnam’s gross domestic product (GDP) in ASEAN is expected to expand considerably over the next five years, with its rankings rising from sixth this year to third by 2027, according to the latest forecast made by the IMF.

Specifically, Indonesia’s GDP leads the way in the ASEAN region, reaching approximately US$1.29 billion, followed by Thailand with US$522.01 billion this year.

Elsewhere, Malaysia, Singapore, the Philippines, and Vietnam will have GDPs of US$439.37 billion, US$424.43 billion, US$411.98 billion, and US$408.95 billion, respectively.

Moving forward to 2023 and 2024, the IMF forecasts that Vietnam’s GDP will rank fourth in the ASEAN-6, hitting US$462.64 billion and US$615.6 billion, respectively.

Throughout the 2025 to 2027 period, Vietnamese GDP is projected to continuously rank third among the ASEAN-6, grossing US$571.12 billion, US$629.62 billion, and US$690.11 billion in three years respectively.

Meanwhile, the Center for International Development at Harvard University, in its July report on Growth Forecast of Economies to 2030, listed Vietnam among the 10 fastest growing economies in the world over the next eight years, with GDP anticipated to expand 5.56% per year, ranking sixth in the world and second in the ASEAN-6.

According to Harvard Growth Lab, Vietnamese GDP is anticipated to rank sixth in ASEAN this year, fifth in 2023-24 and third in 2025-27.

Source: VOV