Vietnam economy size increases by 1.4 times from 2015

The economy expanded at average annual rate of 6.8% in 2016-2019 period and 2.12% in the first nine months of 2020, the Government chief said.

Vietnam may become the 4th biggest ASEAN economy this year with GDP estimated to reach \$340.6 billion, according the Global Economic Outlook released by the International Monetary Fund last week.

Specifically, Vietnam’s GDP will surpass Singapore with $337.5 billion and Malaysia with $336.3 billion. Other three largest economies are Indonesia, Thailand and the Philippines.

Phuc said the GDP per capita was estimated at around $2,750 while labor productivity improved significantly with the average growth rate of 5.8% in 2016-2020 period compared to 4.3% in 2011-2015 period.

► Vietnam targets 2021 economic growth at 6 percent

► Vietnam expected to become 4th largest economy in Southeast Asia this year: IMF

Source: VGP