Vietnam’s GDP is expected to reach $506 billion in 2025, becoming the 33rd largest economy globally, according to the latest forecast from the International Monetary Fund (IMF).

The country’s economy is forecast to grow by 6.1% next year, higher than forecasts for other countries in the region with 4.5% for China, 5.1% for Indonesia, 3% for Thailand and 4.4% for Malaysia.

The National Assembly set a target of 2025 GDP growth of 6.5-7% under a resolution on the socio-economic development plan for next year.

In 2023, Vietnam ranked the 34th globally with the GDP reaching $433 billion.

According to the forecast, the US continues to lead the globe with a GDP of $30.3 trillion, followed by China with $19.5 trillion.