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 ranks 16th in the top 20 richest countries in Asia – Photo: QUORA
Insider Monkey on June 4 has an article about the 6 richest countries in Asia. These emerging Asian countries have "shown resilience in the face of global uncertainty", "effectively overcoming the challenges posed by the COVID-20 pandemic", the Russia-Ukraine war and the global economic downturn, the site said. Vietnam and a number of Asian economies are considered to have demonstrated resilience in the context of global volatility, overcoming challenges from COVID-19.
To identify 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 selected Asia's 20 richest economies based on total assets. The rankings are complex and varied, as voters note, and no single method can perfectly capture all aspects of an economy's wealth. Therefore, it is important to interpret rankings with caution and to consider multiple sources and indicators to gain a more comprehensive understanding of a country's economic strength.
The method used in this case relies only on financial and non-financial assets while not taking into account debt, not considering other factors that contribute to the overall wealth of an economy, 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 ranking with total assets in 2021 of 985 billion USD.
China with total assets of $85,107 trillion 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 low middle-income economy, Vietnam has enjoyed outstanding economic growth, becoming one of the fastest growing economies in the 21st century.
Vietnam is a member of a number of international and intergovernmental organizations, including ASEAN, APEC, CPTPP, Non-Aligned Movement, OIF and WTO. Vietnam's total assets in 2021 is $985 billion, making it one of the richest economies in Asia.
Asia's 20 richest economies as ranked by Insider Monkey, based on assets in 2021, excluding debt:
1- China: 85,107 trillion USD
2- Japan: 25,692 trillion USD
3- India: $14,225 trillion
4- Korea: 10,149 trillion USD
5- Taiwan (China): $5,878 trillion
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
12- Thailand: 1,341 trillion USD
13- Türkiye: 1,142 trillion USD
14- Bangladesh: $1,022 trillion
15- United Arab Emirates (UAE): 994 billion USD
16- Vietnam: 985 billion USD
17 – Pakistan: $640 billion
18 – Malaysia: $615 billion
19 – Kuwait: $545 billion
20- Kazakhstan: 523 billion USD
Lan Phuong (Source: Yahoo Finance; Insider Monkey)
