Vietnam in top 20 richest countries in Asia

Vietnam ranks 16th in the top 20 richest economies in Asia according to calculations by financial website Insider Monkey. In the ranking of the 20 richest countries in Asia, the top 3 positions are China, Japan, and India.

Vietnam ranked 16th in the top 20 richest countries in Asia - Photo: QUORA

Insider Monkey published an article on the 20 richest countries in Asia on June 4. The site stated that these emerging Asian countries “have demonstrated resilience amid global uncertainty”, “effectively overcoming the challenges posed by the COVID-19 pandemic”, the Russia-Ukraine war and the global economic downturn. Vietnam and several other Asian economies are said to have demonstrated resilience amid global volatility, overcoming the challenges posed by COVID-19.

To determine the richest economies in Asia, Insider Monkey analyzed data from Credit Suisse's Global Wealth Databook 2022. This database calculates wealth (in 2021) based on the value of financial and non-financial assets, excluding debt.

Insider Monkey has selected the 20 richest economies in Asia based on total wealth. The pollsters note that this ranking is complex and varied, and no single method can perfectly capture all aspects of an economy’s wealth. Therefore, it is important to interpret the rankings with caution and consider multiple sources and indicators to gain a more comprehensive understanding of a country’s economic strength.

The method used in this case only looks at financial and non-financial assets while ignoring debt, and does not consider other factors that contribute to an economy’s overall wealth, such as natural resources, infrastructure, human capital, or economic potential. These factors can have a significant impact on a country’s economic strength and may not be fully captured in wealth calculations. Accordingly, Vietnam ranks 16th in the rankings with total assets in 2021 of $985 billion.

Vietnam in top 20 richest countries in Asia

China, with total assets of 85.107 trillion USD in 2021, ranked first in Insider Monkey's ranking. Photo: Xinhua

Insider Monkey writes: Vietnam, officially the Socialist Republic of Vietnam, is located in Southeast Asia. The capital of Vietnam is Hanoi , and the largest city is Ho Chi Minh City.

Despite being a developing country with a lower-middle-income economy, Vietnam has had remarkable economic growth, becoming one of the fastest growing economies in the 21st century.

Vietnam is a member of several international and intergovernmental organizations, including ASEAN, APEC, CPTPP, Non-Aligned Movement, OIF and WTO. Vietnam's total assets in 2021 were $985 billion, making it one of the richest economies in Asia.

The 20 richest economies in Asia as ranked by Insider Monkey, based on 2021 assets, excluding debt:

1- China: 85.107 trillion USD

2- Japan: 25.692 trillion USD

3- India: 14.225 trillion USD

4- South Korea: 10.149 trillion USD

5- Taiwan (China): 5.878 trillion USD

6- Hong Kong Special Administrative Region (China): 3.492 trillion USD

7- Indonesia: 3.405 trillion USD

8- Iran: 2.292 trillion USD

9- Saudi Arabia: 2.073 trillion USD

10 - Singapore: 1.766 trillion USD

11- Israel: 1.564 trillion USD