Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Vietnam's gross domestic product (GDP) is estimated toreach 340.6 billion USD this year, making it the fourth-largest economy inSoutheast Asia.
This is revealed in the International Monetary Fund (IMF)World Economic Outlook released this week.
Accordingly, Vietnam is the only country in Southeast Asiawhich is forecasted to have positive growth this year, at 1.6 percent and willreach 6.7 percent by 2021.
IMF forecasts Vietnam's economy will rank fourth in SoutheastAsia this year, surpassing Singapore and Malaysia.
Specifically, the country's GDP is estimated to reach 340.6billion USD, exceeding Singapore with 337.5 billion USD and Malaysia with 336.3billion USD.
Meanwhile, Thailand's GDP will reach 509.2 billion USD thisyear, the Philippines 367.4 billion USD, and Indonesia 1.088 trillion USD.
For GDP per capita, the IMF forecasts that Vietnam's GDP percapita ranks sixth in ASEAN, reaching 3,497 USD per person this year, followedby the Philippines with 3,372 USD, Laos 2,567 USD, Cambodia 1,572 USD andMyanmar 1,332 USD.
Overall, the average growth forecast for ASEAN-5 membercountries including Indonesia, Malaysia, Philippines, Thailand and Vietnam willdecrease by 3.4 percent, while that of Asian emerging and developing countrieswill decrease by 1.7 percent.
China continues to be the only major economy expected togrow, reaching 1.9 percent this year and up to 8.2 percent by 2021. For the US,the IMF forecasts that the country's GDP will decrease by 4.3 percent this year.
The economies of France, Italy, the UK and Spain areforecast to decrease by about 10 percent. For Europe, the figure is 8.3percent.
IMF revised the global GDP forecast to fall by 4.4 percentthis year, and will be up to 5.2 percent by 2021.
The baseline projection assumes that social distancing willcontinue next year but will subsequently fade over time as vaccine coverageexpands and therapies improve. Local transmission is assumed to be brought tolow levels everywhere by the end of 2022.
"We were projecting a somewhat less severe though stilldeep recession this year, relative to our June forecast," said GitaGopinath, IMF's economic counsellor and director of research.
“Moreover, recovery is not assured while the pandemiccontinues to spread. With renewed upticks in COVID-19 infections in places thathad reduced local transmission to low levels, reopenings have paused, andtargeted shutdowns are being reinstated. Economies everywhere face difficultpaths back to pre-pandemic activity levels,” she noted./.
This is revealed in the International Monetary Fund (IMF)World Economic Outlook released this week.
Accordingly, Vietnam is the only country in Southeast Asiawhich is forecasted to have positive growth this year, at 1.6 percent and willreach 6.7 percent by 2021.
IMF forecasts Vietnam's economy will rank fourth in SoutheastAsia this year, surpassing Singapore and Malaysia.
Specifically, the country's GDP is estimated to reach 340.6billion USD, exceeding Singapore with 337.5 billion USD and Malaysia with 336.3billion USD.
Meanwhile, Thailand's GDP will reach 509.2 billion USD thisyear, the Philippines 367.4 billion USD, and Indonesia 1.088 trillion USD.
For GDP per capita, the IMF forecasts that Vietnam's GDP percapita ranks sixth in ASEAN, reaching 3,497 USD per person this year, followedby the Philippines with 3,372 USD, Laos 2,567 USD, Cambodia 1,572 USD andMyanmar 1,332 USD.
Overall, the average growth forecast for ASEAN-5 membercountries including Indonesia, Malaysia, Philippines, Thailand and Vietnam willdecrease by 3.4 percent, while that of Asian emerging and developing countrieswill decrease by 1.7 percent.
China continues to be the only major economy expected togrow, reaching 1.9 percent this year and up to 8.2 percent by 2021. For the US,the IMF forecasts that the country's GDP will decrease by 4.3 percent this year.
The economies of France, Italy, the UK and Spain areforecast to decrease by about 10 percent. For Europe, the figure is 8.3percent.
IMF revised the global GDP forecast to fall by 4.4 percentthis year, and will be up to 5.2 percent by 2021.
The baseline projection assumes that social distancing willcontinue next year but will subsequently fade over time as vaccine coverageexpands and therapies improve. Local transmission is assumed to be brought tolow levels everywhere by the end of 2022.
"We were projecting a somewhat less severe though stilldeep recession this year, relative to our June forecast," said GitaGopinath, IMF's economic counsellor and director of research.
“Moreover, recovery is not assured while the pandemiccontinues to spread. With renewed upticks in COVID-19 infections in places thathad reduced local transmission to low levels, reopenings have paused, andtargeted shutdowns are being reinstated. Economies everywhere face difficultpaths back to pre-pandemic activity levels,” she noted./.
VNA
