Vietnam is in the top 16 richest countries in Asia

Insider Monkey believes that Vietnam is a developing country with impressive economic growth and will be one of the fastest growing economies in the 21st century.

According to Yahoo Finance , Vietnam ranks 16th out of 21 richest countries in Asia according to statistics from the site. Insider Monkey. The site evaluates based on data analysis results on the global wealth of countries.

With total assets of 985 billion USD, Vietnam ranks 16th. Insider Monkey Vietnam is a developing country with impressive economic growth and will be one of the fastest growing economies in the 21st century.

The results are based on financial and non-financial assets and minus debt levels, excluding factors such as natural resources, infrastructure, human resources and economic potential - factors that contribute to a country's wealth.

Vietnam is considered a developing country with good economic growth.

The Organization for Economic Cooperation and Development (OECD) said that Asia has a relatively good economic recovery after the pandemic, despite the global economic uncertainty. ASEAN countries (including Vietnam), China and India have effectively overcome the challenge of the global recession.

OECD assessed that the above countries' ability to overcome difficulties was due to appropriate monetary and macroeconomic policies, stable export situation and domestic demand.

In addition, the average GDP growth rate of Asian countries is expected to increase to 5.4% in 2024. The ASEAN bloc has an average GDP growth of 4.6% in 2023 and 4.8% in 2024, demonstrating stable resilience.

Inflation in Asia will cool next year, gradually reaching pre-pandemic levels, falling to 4.2% in 2023 and 3.3% in 2024, according to the Asian Development Bank (ADB). However, inflation in Asia will be affected by higher interest rates and continued high commodity prices.

The International Monetary Fund (IMF) said the Asia- Pacific region is expected to have higher economic growth thanks to some key drivers such as China's recovery from the pandemic and India's good growth.

In addition, among the 16 countries identified as the most developed in Asia, the four countries at the top of the list include China (85,107 billion USD), Japan (25,692 billion USD), India (14,225 billion USD) and South Korea (10,149 billion USD).

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