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Vietnam Today

GDP of Vietnam ranks 7th among ASEAN countries

Released at: 13:59, 01/04/2015

GDP of Vietnam ranks 7th among ASEAN countries

Figures show promising signs of economic growth.

by Nhi Linh

ASEAN stats has published data showing the economic growth of Vietnam in 2013 with significant indicators that Vietnam will possibly overcome the economic crisis. The economic size of Vietnam is relatively smaller than ASEAN countries, however, the gap has decreased in recent years according to ASEANstats. The report showed that the GDP of Vietnam in 2005 was one third of Thailand, nearly half of Singapore and nearly one fifth of Indonesia.

By 2013, the figure had changed dramatically, with the GDP of Vietnam in 2013 half of Thailand's and more than half of Singapore's.

The GDP of Vietnam reached $171 billion in 2013 with economic growth of 5.4 per cent, up 0.2 per cent compared to 2012. Vietnamese economic growth was also 0.2 per cent higher than the average of ASEAN countries.

Hence, ASEANstats praised the efforts of Vietnam, especially in industry, despite the economic crisis.

Compared with other ASEAN countries who have struggled with economic crises such as Brunei, Singapore, Thailand and Malaysia with the low GDP increases, Vietnam still maintained stable economic growth.

Since becoming a low-middle income country, the GDP of Vietnam has been higher each year. In 2013, the GDP of Vietnam ranked 7th in ASEAN countries with GDP per capita of $1.908. This is higher than Cambodia, Laos and Myanmar and shows the reduction of the economic gap between Vietnam and other ASEAN countries.

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