Indonesia topped in the region with an estimated GDP of $1.42 trillion, followed by Thailand ($512.19 billion), Singapore ($497.35 billion), the Philippines ($435.68 billion) and Vietnam ($433.3 billion).

The global GDP size last year was estimated to be $104.48 trillion, in which the United States remained the largest economy with a GDP valued at $26.95 trillion.

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China was the second largest with a GDP size of $17.7 trillion, followed by Germany, Japan and India.

The GDP size of Vietnam, which currently ranks as the 35th largest economy in the world, is forecast to hit $469.67 billion this year, ranking fifth in the Southeast Asian region, after Indonesia ($1.54 trillion), Thailand ($543.35 billion), Singapore ($520.97 billion) and the Philippines ($475.94 billion), the IMF noted.

According to the independent Centre for Economic Forecasting and Analysis in the United Kingdom, Vietnam’s economic scale ranking is likely to rapidly rise in future, with its global position forecast to rise to 24th by 2033, with an economic scale of $1,050 billion.

By 2038, the country’s GDP scale is expected to hit $1,559 billion, and it will rise to the 21st position, surpassing other ASEAN economies such as Thailand, Singapore, and the Philippines, a Vietnamese media outlet reported.

Fibre2Fashion News Desk (DS)