Top 35 global economy by size

According to Vietnam’s General Statistics Office, the country’s 2025 growth rate far outpaced both developed and developing economies in the region and globally.

Vietnam’s GDP at current prices reached an estimated $514 billion in 2025-up $38 billion from $476 billion in 2024.

This figure notably exceeds the $459 billion forecast by the UK-based Centre for Economics and Business Research (CEBR).

In its recently released World Economic League Table (WELT) report, CEBR recognized Vietnam for consistently outperforming global averages in GDP growth and ranking among the strongest economies in the Asia-Pacific in recent years.

However, CEBR still classifies Vietnam as a lower-middle-income nation, projecting its 2025 GDP per capita (PPP-adjusted) at around $17,688.

CEBR’s own forecast places Vietnam’s GDP at $459 billion for 2025, up modestly from $450 billion in 2024, maintaining the country’s 34th global ranking-unchanged from 2024 and expected to remain so in 2026.

Malaysia, in comparison, climbs two places to 35th in 2025, just behind Vietnam, and is projected to hold that spot in 2026.

Thailand moves from 30th to 28th place in 2025, ranking six spots above Vietnam but is expected to drop to 29th in 2026.

Singapore, meanwhile, slips from 28th in 2024 to 29th in 2025 and is projected to fall to 30th by 2026.

Indonesia remains the largest Southeast Asian economy, holding 16th place globally in 2024, 17th in 2025, and forecasted to return to 16th in both 2026 and 2030.

When will Vietnam surpass Thailand and Singapore?

According to CEBR, Vietnam’s economic size will continue to grow rapidly in the coming years.

Its GDP is projected to expand at an average annual rate of 5.3% over the next decade.

By 2035, Vietnam is forecast to reach a GDP of $994 billion, ranking 27th globally-surpassing both Thailand and Singapore.

At that time, Singapore’s GDP is expected to reach $864 billion (32nd globally), while Thailand’s is projected at $839 billion (33rd globally).

CEBR further forecasts that these rankings will remain unchanged by 2040, with Vietnam’s GDP climbing to $1.407 trillion.

Indonesia, meanwhile, is expected to leap to 11th globally by 2035 with a GDP of $2.979 trillion and continue rising to 8th by 2040 with a projected GDP of $4.182 trillion.

The Philippines is also on the rise, projected to reach 25th place by 2035 with a GDP of $1.047 trillion, and 24th by 2040 with $1.5 trillion in output.

Vietnam’s path to the top three in Southeast Asia

Vietnam’s ascent will significantly alter the economic rankings in Southeast Asia.

As of 2025, Vietnam ranks fifth in the region by economic size.

CEBR projects that it will climb to third place within the next decade-only behind Indonesia and the Philippines-surpassing both Singapore and Thailand in total GDP.

Other notable projections from CEBR for 2025 include Cambodia with a GDP of $50 billion (96th globally), Laos at $18 billion (135th), Myanmar at $79 billion (84th), the Philippines at $493 billion (33rd), Brunei at $15 billion (141st), and Timor-Leste at $2.1 billion (174th).

Manh Ha