Home » Business » Vietnamese economy ranked fifth in regional bloc

Vietnamese economy ranked fifth in regional blocASEAN Statistics (ASEAN Stats) ranks Vietnam seventh in terms of per capita GDP and third in terms of population density among the regional bloc’s ten member nations.

It identifies Vietnam as ASEAN’s fifth biggest economy on the basis of purchasing power and rapid and stable growth.

The country’s 7.3 percent annual average GDP growth rate between 2001–2010 was higher than that of Thailand, Singapore, Malaysia, and the Philippines.

Despite slight slides backwards in recent years, Vietnam’s growth rate is still considered stable and comparatively high.

Vietnam’s industrial ratio ranks third in the ASEAN bloc but its service ratio remains low. Economic restructuring is markedly sluggish.

ASEAN Stats warns the Vietnamese economy faces numerous difficulties but economic experts have more positive assessments.

The Asian Development Bank (ADB) forecasts despite a general diminishing of Asian economic growth, Vietnam’s growth will continue unchanged.

Strategy Consulting Group PwC predicts the Vietnamese economy will climb to 28th in the world by 2025. It places it among the 20 emerging economies enjoying the highest growth rates.

(Source: VOV)

No comments yet... Be the first to leave a reply!