Based on strong growth results in the first half of 2022, international organizations have made economic growth forecasts for Vietnam and ASEAN-6 countries in 2022 and 2023. So according to the latest forecasts, What is the ranking of Vietnam’s GDP in 2022 and 2023 in ASEAN-6?

According to the latest Global Economic Forecast Report of the Institute of Chartered Accountants of England and Wales (ICAEW) and Oxford Economics published in June 2022, Vietnam is forecasted to be a country with high growth prospects. In the region, at 6.5% in 2022 and 8.3% in 2023 (the highest in ASEAN-6).

Along with that, Indonesia, Thailand, Malaysia, Singapore and the Philippines are forecasted to have GDP growth in the above order as follows: 5.7%; 4.4%, 7.2%; 2.9%; 7.3% in 2022 and 5.7%; 6.1%; 4.2%; 2.2%; 5.2% in 2023.

Accordingly, the size of Indonesia’s GDP will lead in the ASEAN-6 region in 2022 and 2023 with GDP reaching 1.216 billion USD and 1,285 billion USD respectively. Following Indonesia is Thailand with a GDP of 570.25 billion USD in 2022 and 605.04 billion USD in 2023.

Malaysia, Singapore, the Philippines, and Vietnam all have GDPs of 397.83 billion USD; 389.63 billion USD; 413.90 billion USD; $391.92 billion in 2022, and $414.54 billion; 398.2 billion USD; $435.42 billion; 424.45 billion USD in 2023. According to the ICAEW prediction, Vietnam’s GDP would rank sixth in 2022 and fourth in 2023 in ASEAN-6.

According to the report “Updated World Economic Outlook” published in July 2022 by the International Monetary Fund (IMF), the IMF forecasts that Vietnam’s growth will reach 6%, ranking 2nd in ASEAN-6. in 2022 and reach 7.2%, ranking first in ASEAN-6 in 2023.

At the same time, GDP growth predictions for Indonesia, Thailand, Malaysia, Singapore, and the Philippines are 5.3%; 2.8%; 5.1%; 3.7%; 6.7 in 2022, and 5.2%; 4%; 4.7%; 2.5%; 5% by 2023.

With these growth forecasts,, Indonesia is the country with the largest GDP size in ASEAN-6 in 2022 and 2023, reaching 1.211 billion USD and 1,274 billion USD respectively. Thailand has the second largest GDP size with 561.51 billion USD in 2022 and 584 billion USD in 2023.

According to the report “ASEAN+3 Regional Economic Outlook in 2022” of the ASEAN+3 Macroeconomic Research Office (AMRO) published in July 2022, Vietnam’s economic growth is forecast to reach 6. 3% in 2022, ranking 2nd in ASEAN-6 and reaching 6.5% in 2023, ranking 1st in ASEAN-6.

Indonesia, Thailand, Malaysia, Singapore, and the Philippines are expected to have GDP growth rates of 5.1%, 3.2%, 6%, 3.9%, and 6.9% in 2022, and 5.4%, 4.9%, 5%, 2.4%, and 6.5% by 2023.

With AMRO’s forecasts, Indonesia is still the country with the largest GDP in ASEAN-6, reaching 1,208.65 billion USD in 2022 and 1,273.92 billion USD in 2023. Thailand has the second largest GDP size with $563.70 billion in 2022 and $591.32 billion in 2023.

Malaysia, Singapore, and the Philippines have GDPs of 393.38 billion USD, $412.36 billion in 2022, and $413.05 billion, 402.86 billion USD, and 439.16 billion USD in 2023, respectively. GDP scale Vietnam ranks sixth with 391.18 billion USD in 2022, increasing to fourth with 416.61 billion USD in 2022.

Thus, according to forecasts of ICAEW, IMF and AMRO, Vietnam’s GDP in 2022 ranks sixth in ASEAN-6. By 2023, Vietnam’s GDP will be ranked 4th in ASEAN-6, with GDP size not changing too much among the 3 organizations.

Source: Economic Lifestyle