Vietnam GDP could top Singapore’s this year: IMF

[Viet]

Vietnam estimated GDP of $340.6 billion this year could exceed that of Singapore by nearly 1 percent for the first time, the IMF says.

Farmers harvest rice in the southern province of An Giang. Photo by VnExpress/Thanh Tran.


The IMF has forecast a GDP growth of 1.6 percent for Vietnam this year, while that of Singapore declines by 6 percent. These figures put Vietnam as the fourth largest economy in ASEAN this year, behind Indonesia, Thailand and the Philippines.


In the next five years, Vietnam’s GDP is set to grow by 6-7 percent annually, compared to Singapore’s 2-5 percent.

This means that by 2025, Vietnam’s GDP could reach $530 billion, exceeding that of Singapore by 22.7 percent.

Vietnam is among few countries that are likely to post positive GDP growth this year while most economies contract.

In ASEAN, Philippines is set to record a negative GDP growth of 8.3 percent, while that of Malaysia, like Singapore’s, is set to contract by 6 percent.

Vietnam’s per capita GDP is set to grow by 2.4 percent this year to $3,497, ranking fifth among six largest ASEAN countries behind Singapore, Malaysia, Thailand and Indonesia. The country is expected to maintain its fifth position even as this figure grows 7-8 percent per year to reach $5,212 by 2025.

Vietnam GDP could top Singapore’s this year: IMF - VnExpress International

Vietnam's estimated GDP of $340.6 billion this year could exceed that of Singapore by nearly 1 percent for the first time, the IMF says. - VnExpress International

ampe.vnexpress.net

 

[Indos]

Wow, that is far earlier than other report saying Vietnam will only surpass Singapore in 2030 that @Viet had posted a year ago if I am not mistaken. Maybe you can try to find that forecast from your thread record to humiliate the organization that has made the forcast

Covid is of course the main reason behind it but the trade war that happened since 2018 is also the other unexpected reason that has slowed Singapore economy that rely heavily on international trade.

By exceeding Singapore GDP, it also means Malaysia is also passed by Vietnam this year. The traditional order of ASEAN economy in term of GDP is Indonesia, Thailand, Singapore, Malaysia, Philippine, and Vietnam. And now it has changed into Indonesia, Thailand, Philippine, Vietnam, Singapore, Malaysia. Vietnam weight in ASEAN geopolitics will increase I believe due to this fact. I hope Vietnam is one of the close partner of Indonesia in ASEAN.

 

[Kai Liu]

Vietnam estimated GDP of $340.6 billion this year could exceed that of Singapore by nearly 1 percent for the first time, the IMF says.

Farmers harvest rice in the southern province of An Giang. Photo by VnExpress/Thanh Tran.


The IMF has forecast a GDP growth of 1.6 percent for Vietnam this year, while that of Singapore declines by 6 percent. These figures put Vietnam as the fourth largest economy in ASEAN this year, behind Indonesia, Thailand and the Philippines.


In the next five years, Vietnam’s GDP is set to grow by 6-7 percent annually, compared to Singapore’s 2-5 percent.

This means that by 2025, Vietnam’s GDP could reach $530 billion, exceeding that of Singapore by 22.7 percent.

Vietnam is among few countries that are likely to post positive GDP growth this year while most economies contract.

In ASEAN, Philippines is set to record a negative GDP growth of 8.3 percent, while that of Malaysia, like Singapore’s, is set to contract by 6 percent.

Vietnam’s per capita GDP is set to grow by 2.4 percent this year to $3,497, ranking fifth among six largest ASEAN countries behind Singapore, Malaysia, Thailand and Indonesia. The country is expected to maintain its fifth position even as this figure grows 7-8 percent per year to reach $5,212 by 2025.

Vietnam GDP could top Singapore’s this year: IMF - VnExpress International

Vietnam's estimated GDP of $340.6 billion this year could exceed that of Singapore by nearly 1 percent for the first time, the IMF says. - VnExpress International

ampe.vnexpress.net

GDP per capita from $2,677 to $3,497 with 2.4% of growth? That is a 30% growth...What kind of method they use to calculate?

https://en.wikipedia.org/wiki/List_of_countries_by_past_and_projected_GDP_(nominal)_per_capita

vn fake data...

 

[Beast]

GDP per capita from $2,677 to $3,497 with 2.4% of growth? That is a 30% growth...What kind of method they use to calculate?

https://en.wikipedia.org/wiki/List_of_countries_by_past_and_projected_GDP_(nominal)_per_capita

vn fake data...

Vietnam self bragging calculation.

 

[Kai Liu]

Vietnam self bragging calculation.

I find this:

Vietnam confirms 25.4% upward GDP revision for 2010-2017

Vietnam on Friday officially announced an upward revision of the size of its gross domestic product (GDP) by 25.4% for the 2010-2017 period, after the statistics office said it had submitted the result for approval in late August.

www.cnbc.com

So their government can lift their GDP by 25% just by an announcement?
LMAO...
Next time we should make such an announcement to become the world's largest economy overnight...LMAO...

 

[tower9]

Singapore has 3 million people

 

[AViet]

GDP per capita from $2,677 to $3,497 with 2.4% of growth? That is a 30% growth...What kind of method they use to calculate?

https://en.wikipedia.org/wiki/List_of_countries_by_past_and_projected_GDP_(nominal)_per_capita

vn fake data...

Per capita passed $3000 back in 2017 but Vietnam did not report it officially. There have been some threads about it.

 

[Indos]

Per capita passed $3000 back in 2017 but Vietnam did not report it officially. There have been some threads about it.

What is the reason behind that 25 % GDP calculation based increase stated in Vietnamese news cited by @Kai Liu since the report doesnt tell the reason of it ???

Vietnam GDP is 245 billion USD (2.566 USD per capita) in 2018 while GDP in 2020 will be 340 billion USD according to that news which is impossible to be reached considering the growth in 2019 is 7 % and in 2020 is predicted to be about 2 %, not enough for that sudden change.

 

[Viet]

Wow, that is far earlier than other report saying Vietnam will only surpass Singapore in 2030 that @Viet had posted a year ago if I am not mistaken. Maybe you can try to find that forecast from your thread record to humiliate the organization that has made the forcast

Covid is of course the main reason behind it but the trade war that happened since 2018 is also the other unexpected reason that has slowed Singapore economy that rely heavily on international trade.

By exceeding Singapore GDP, it also means Malaysia is also passed by Vietnam this year. The traditional order of ASEAN economy in term of GDP is Indonesia, Thailand, Singapore, Malaysia, Philippine, and Vietnam. And now it has changed into Indonesia, Thailand, Philippine, Vietnam, Singapore, Malaysia. Vietnam weight in ASEAN geopolitics will increase I believe due to this fact. I hope Vietnam is one of the close partner of Indonesia in ASEAN.

ah you got a good memory.
yes I found it.

Vietnam on track to overtake Singapore in decade: DBS

https://asia.nikkei.com/Economy/Vietnam-on-track-to-overtake-Singapore-in-decade-DBS Laborers work at the construction site of an apartment building in Hanoi. © Reuters NEW YORK -- Vietnam's economy could grow as much as 6.5% a year over the next ten years and exceed Singapore in size by...

defence.pk

 

[Cliftonite]

Kinda pathetic when Singapore has a population of 6 million and Vietnam has a population of 100 +million.
@Shantanu_Left aap ka mulk Viet Congs se maar kha raha hai

 

[ILC]

I find this:

Vietnam confirms 25.4% upward GDP revision for 2010-2017

Vietnam on Friday officially announced an upward revision of the size of its gross domestic product (GDP) by 25.4% for the 2010-2017 period, after the statistics office said it had submitted the result for approval in late August.

www.cnbc.com

So their government can lift their GDP by 25% just by an announcement?
LMAO...
Next time we should make such an announcement to become the world's largest economy overnight...LMAO...

When China was at this level of development it also corrected its GDP every few years by big %. Nothing surprising. I think you may not know this, but one year ago China corrected its GDP, at the scale of the whole country it was at about 1%, but at the scale of provinces there were big differences. Shandong GDP went down by 1 trillion RMB (2015-2019), but some other provinces or cities had a big jump in GDP, also almost 30%, like Shanghai, Beijing or Xiamen.

 

[bshifter]

https://twitter.com/x/status/1316301461123342336

Vietnamese and Indians have more in common than meets the eye.

 

[Kai Liu]

Well, on the national level, China has never revised its GDP figure by even close to such a %...
And a GDP per capita of $3,500? That means vietnam has reached the level China in 2008?

https://en.wikipedia.org/wiki/List_of_countries_by_past_and_projected_GDP_(nominal)_per_capita

Even consider the inflation of dollar... It should be not far off...
But just compare a few indicators, for example, car sales number, in 2008, China sold ~ 10 million cars, while vn today their cars sales figure is barely 1/30 of China in 2008... So you can see what's their real GDP figure, should be even less than before the revision...
I think IMF should do their own study to give the GDP number... Not by an 'announcement' of the government, which is just like a big big joke...

BTW, vn looks slightly better than india, and that's it, but to say vn has reached the level of China in 2008 is a big big joke to me...lol...

 

[CIA Mole]

if you compare electricity consumption between the countries the estimate seems correct

 

[AViet]

What is the reason behind that 25 % GDP calculation based increase stated in Vietnamese news cited by @Kai Liu since the report doesnt tell the reason of it ???

Vietnam GDP is 245 billion USD (2.566 USD per capita) in 2018 while GDP in 2020 will be 340 billion USD according to that news which is impossible to be reached considering the growth in 2019 is 7 % and in 2020 is predicted to be about 2 %, not enough for that sudden change.

Just adjustment using more accurate data.