Based on projections by the International Monetary Fund (IMF), Seasia Stats forecasted that Viet Nam's GDP will reach US$506 billion next year, ranking 5th in Southeast Asia behind Indonesia, Singapore, Thailand and the Philippines.

Seasia Stats highlights Viet Nam's impressive economic growth, adding that Viet Nam's economy is rapidly expanding, thanks to its manufacturing boom and foreign investments.

In a meeting held in October this year, Prime Minister Pham Minh Chinh said, Viet Nam's GDP is expected to reach US$500 billion in 2025, becoming the 33rd largest economy globally and the 4th in ASEAN.

The country's GDP rose from US$346 billion in 2020 to US$433 billion in 2023, respectively ranking 37th and 34th largest economy in the world, he added.

Pham said the GDP per capita will increase to around US$4,900 in 2025 from US$3,720 in 2021, up 31.7 percent.

Viet Nam will strive to raise the GDP size to around US$780-800 billion and the GDP per capita to US$7,400-7,600 by the end of this decade, said the Prime Minister.

At the Government regular meeting that took place earlier this month, the Prime Minister urged authorities to strive to accelerate GDP growth to at least 7 percent in 2024, approximately 8 percent for 2025, in order to lay foundation for double-digit growth in the 2026-2030 period./.