The Southeast Asian economy is projected to achieve a growth rate of 6.3 percent in 2013 and 6.5 percent in 2014 to rank 22nd among the 29th fastest growing economies in the world.
The result was released recently by Business Insider, a New York-based business/entertainment website, using the World Bank’s semi-annual Global Economic Prospects report.
Vietnam relies heavily on exports, with garments, crude oil, rice and machinery being major export items.
The Business Insider list also includes six other countries in Southeast Asia, 16 in Africa, 3 in central Asia, 2 in Latin America and one in the Middle East.
Among the listed countries, 9 are dependent on exports of crude oil, 5 on gold and diamond, 5 on farm produce, while 5 other economies are driven by tourism services.
Only three countries are in the group of 20 industrialised and emerging countries (G-20).
Andrew Burns, a WB official, warned developing countries of the difficult times ahead, as the world economy is not out of the woods yet.
|< Prev||Next >|
» Per capita income in Vietnam reaches almost USD2,000
» Striving for 12 percent credit growth rate – what for?
» Viet Nam growth outlook remains stable
Latest Category Posts
- Deutsche Bank maintains ownership in Hoang Anh Gia Lai
- Vietnam “caught in a shore” because of SOEs?
- Thermal power project warms up
- City petition targets capital transfers
- Induction stoves popular as gas prices rise
- Cashew exports reach $1.5bn annual target
- Top online retailers are owned by VN firms
- Vietnamese income “average”, spending “extravagant”
- Kien Giang to export farm-raised fish
- Southern province welcomes investors
Random Category Picks
Popular Category Posts
- Vietnam’s inflation rate may exceed the 8% threshold in 2013
- ADB maintains 5.2% GDP forecast for Vietnam in 2013
- Big test for ageing economic system
- New WB report stresses on importance of trade facilitation
- TPP: If Japan cools, Vietnam would have opportunities
- ‘New approach' needed
- PVN on course to hit annual targets
- Entrepreneur forum helps lift VN-Canada trade
- Local economy stuck at bottleneck, say experts
- Inspectorate blasts EVN diversions
- GDP inching up strenuously
- Vietnam's economy regaining growth momentum
- Experts skeptical about transfers of ailing SOEs
- Bright forecast for trade links between Viet Nam and Japan
- City set for major economic restructuring
- PM urges greater efforts to rein in rising inflation
- Vietnam considers selling a bank to foreigners
- Financial experts urge solutions to rescue flailing VN economy
- VN’s economy relatively resilient, but core problems persists: Fitch
- Time's right for Algerian trade