CEBR: VN’S ECONOMY TO RANK 19TH BY 2035

Viet Nam’s economy will rank 19th in the world by 2035, according to a report released recently by the UK’s Centre for Economics and Business Research (CEBR).

The center said Viet Nam is set to climb rapidly up the rankings of its World Economic League Table in the next 15 years.

The annual rate of Viet Nam’s GDP growth is forecast to pick up to an average of 7% between 2021 and 2025 and 6.6% on average each year over the subsequent ten years.

Despite tremendous impacts of the Covid-19 pandemic, the Vietnamese economy expanded 2.91%, according to the nation’s General Statistics Office.

In 2020, total trade volume was estimated at US$543.9 billion, up 5.1% against the previous year. Of the figure, export turnover rose 6.5% to US$281.5 billion while import value increased by 3.6% to US$262.4 billion.

With the above figures, Viet Nam posted a trade surplus of US$19.1 billion this year.

Meanwhile, inbound tourism plunged by 78.7% and consumer price index rose by 3.23%.

As of 6:05 pm on December 29, Viet Nam recorded a total of 1,454 cases of Covid-19, of whom 693 were local infections, according to the National Steering Committee for Covid-19 Prevention and Control.

The number of deaths still remained at 35. As many as 1,350 patients have recovered from the disease.

For 25 years the CEBR has supplied independent economic forecasting and analysis to hundreds of private firms and public organizations.

Source: VCCI