Ranking 20 richest countries in Asia, Vietnam ranked 16th

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

According to the Organization for Economic Cooperation and Development (OECD), Asia (including 55 countries and territories) has shown resilience in the context of global instability. Of which, the three richest countries on the continent are China, Japan, and India.

The average GDP growth rate of Asian countries is forecast to increase to 5.3% in 2023 and 5.4% in 2024.

For ASEAN, average real GDP growth is projected to reach 4.6% in 2023 and 4.8% in 2024, slightly weaker than in 2022 but still showing resilience based on the OECD projection framework.

On the other hand, the Asia- Pacific region is expected to have higher growth, according to the International Monetary Fund.

To determine the richest countries in Asia, Insider Monkey analyzed Credit Suisse's global wealth data as of the end of 2021.

The method used in this case relies only on financial and non-financial assets while deducting liabilities.

Insider Monkey does not consider other factors that contribute to a country's overall wealth, such as its natural resources, infrastructure, human resources, or economic potential.

Regarding Vietnam, the ranking stated: Despite being a developing country with a lower-middle-income economy, Vietnam has had outstanding 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 countries in Asia.

Ranking of total assets of 20 countries and territories in Asia

1. China: Total assets 85,107 trillion USD.

2. Japan: Total assets 25,692 trillion USD.

3. India: Total assets 14,225 trillion USD.

4. South Korea: Total assets 10,149 trillion USD.

5. Taiwan: Total assets 5,878 trillion USD.

6. Hong Kong Special Administrative Region: Total assets 3,492 trillion USD.

7. Indonesia: Total assets 3,405 trillion USD.

8. Iran: Total assets 2,292 trillion USD.

9. Saudi Arabia: Total assets 2,073 trillion USD.

10. Singapore: Total assets 1,766 trillion USD.

11. Israel: Total assets 1,564 trillion USD.