Viet Nam is among the top 20 contributors to global economic growth, according to a Bloomberg analysis of International Monetary Fund (IMF) data.
Viet Nam is among the top 20 contributors to global economic growth, according to a Bloomberg analysis of International Monetary Fund (IMF) data.
The country, along with Indonesia, Malaysia, the Philippines and Thailand – all from the ASEAN bloc – were named as major drivers of growth against a gloomy backdrop of stalled international trade, rising uncertainty and escalating trade tension, which has been forecast to result in slower growth in the next five years on a global scale.
Traditional top players such as China and the US are likely to experience slow growth with China’s share of global GDP expected to fall from 32.7 per cent in 2018-19 to 28.3 per cent by 2024, a steep fall off of 4.4 percentage points.
The US economy looks to slip from 13.8 per cent to 9.2 per cent by 2024, losing its second seat to India, whose share is projected to reach 15.5 per cent.