{"id":947951,"date":"2026-10-31T20:06:25","date_gmt":"2026-10-31T20:06:25","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/947951\/"},"modified":"2026-10-31T20:06:25","modified_gmt":"2026-10-31T20:06:25","slug":"vietnam-set-to-overtake-southeast-asias-largest-economy-in-gdp-per-capita-this-year-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/947951\/","title":{"rendered":"Vietnam set to overtake Southeast Asia’s largest economy in GDP per capita this year"},"content":{"rendered":"

The figures, from the IMF’s October World Economic Outlook, put Vietnam’s nominal output per person 8.9% above last year’s level and nearly double what it was a decade earlier.<\/p>\n

Vietnam trailed Indonesia by about $250 last year, IMF estimates show, and the fund’s April outlook had still projected Indonesia staying ahead in 2026.<\/p>\n

The new projections would make Vietnam fifth among ASEAN members, behind Singapore, Brunei, Malaysia and Thailand. The IMF expects it to keep its lead over Indonesia in 2027, at $5,659 against $5,550.<\/p>\n

Indonesia remains Southeast Asia’s largest economy by far. With nearly three times Vietnam’s population of just over 100 million, its GDP is projected at $1.48 trillion this year, against Vietnam’s $542 billion.<\/p>\n

Nikkei Asia linked the shift to Vietnam’s growing role in high-tech manufacturing of semiconductors and electronics, noting that Taiwan’s Foxconn is expanding production there. South Korea’s Samsung Electronics makes smartphones and other electronics for export at its northern Vietnamese factories.<\/p>\n

Vietnam’s economy grew 9.95% in the third quarter, its fastest pace in four years.<\/p>\n

\"A<\/p>\n

A multi-level interchange in Ho Chi Minh City. Photo by VnExpress<\/p>\n

The government’s public investment push is also supporting growth, Mai Fujita, a senior research fellow at Japan’s Institute of Developing Economies, told Nikkei Asia.<\/p>\n

Vietnam plans to spend VND1.014 quadrillion ($39.3 billion) on public investment this year, with roads, airports and other infrastructure under construction nationwide.<\/p>\n

Indonesia’s growth, by contrast, has hovered around 5%. The IMF forecasts 5.1% for the country this year, against 8.4% for Vietnam.<\/p>\n

Vietnam is targeting growth of at least 10% this year and aims to lift GDP per capita to about $8,500 by 2030, roughly Thailand’s level today.<\/p>\n

Fujita said Vietnam also needs to pursue long-term growth by developing human resources and technology, alongside the infrastructure spending that lifts growth in the short term.<\/p>\n","protected":false},"excerpt":{"rendered":"The figures, from the IMF’s October World Economic Outlook, put Vietnam’s nominal output per person 8.9% above last…\n","protected":false},"author":2,"featured_media":947952,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164,514764],"class_list":["post-947951","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy","tag-vietnam-set-to-overtake-southeast-asia"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/947951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=947951"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/947951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/947952"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=947951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=947951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=947951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}