CEBR: Vietnam to become world’s 19th biggest economy by 2035

(VOVWORLD) - Vietnam’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). 
CEBR: Vietnam to become world’s 19th biggest economy by 2035  - ảnh 1A container is unloaded at Tan Cang-Thot Not port in the Mekong Delta city of Can Tho. (Photo: VNA)

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

The annual rate of Vietnam’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.

Vietnam has so far contained the COVID-19 outbreak better than has been observed elsewhere in the world, according to the report. As of the middle of December, the country had recorded 35 COVID-19 related deaths, equating to less than 1 death per 100,000 people.

While the harm to public health inflicted by the pandemic has been relatively limited, the effect of the outbreak on global demand and international supply chains means that the economic damage has been considerable.

Despite the COVID-19 pandemic, the economy was able to escape a contraction in 2020, said the report.