In fact, GDP at Purchasing Power Parity (PPP) is used by international organizations to more accurately reflect a country’s development. In addition, GDP (PPP) will partly reflect the quality of life of people in an area.
In 1986, Vietnam’s GDP (PPP) reached about USD 55.68 billion, ranking 6/6 in ASEAN-6. However, in 1987, Vietnam’s GDP (PPP) surpassed Singapore. Specifically, Vietnam’s GDP (PPP) reached about USD 58.51 billion; Singapore’s GDP (PPP) was about $56 billion in 1987.
In 2017, Vietnam’s GDP (PPP) surpassed that of Malaysia. Specifically, the GDP (PPP) of Vietnam reached USD 851.06 billion, while the GDP (PPP) of Malaysia and Singapore reached USD 830 billion and USD 544 billion in 2017.
In 2018, Vietnam’s GDP (PPP) surpassed that of the Philippines. Specifically, the GDP (PPP) of Vietnam reached USD 934.11 billion, while the GDP (PPP) of the Philippines, Malaysia and Singapore reached USD 930 billion, USD 890 billion and USD 568 billion respectively in 2018.
In the 2018-2021 period, Vietnam’s GDP (PPP) has always topped that of the Philippines, Malaysia, and Singapore. Meanwhile, Indonesia always has the leading GDP (PPP) and Thailand has the second highest GDP (PPP) in ASEAN-6.
In 2021, Indonesia has the leading scale of GDP (PPP) among ASEAN-6 countries, worth $3.566 billion. In addition, Thailand and Vietnam ranked 2nd and 3rd with GDP (PPP) of USD 1.343 billion and USD 1.134 billion.
It was followed by the Philippines ($1.013 billion), Malaysia ($971 billion), and Singapore ($635 billion). For example, Vietnam’s GDP (PPP) in ASEAN-6 now ranks above the Philippines, Malaysia and Singapore.
By 2022, Indonesia is expected to have the leading scale of GDP (PPP) among ASEAN-6 countries, worth about US$4.023 billion. In addition, Thailand and Vietnam ranked 2nd and 3rd with a GDP forecast (PPP) of approximately $1.479 billion and $1.3 trillion, respectively.
The IMF forecasts that the Philippines, Malaysia and Singapore will have a GDP (PPP) scale of USD 1.155 billion, USD 1.096 billion and USD 701 billion in 2022, respectively.
Size of GDP (PPP) of ASEAN-6 countries in the period 1986-2021 and forecast for the period 2022-2027 according to the IMF. Source: IMF.
In addition, the Philippines, Malaysia and Singapore have a GDP (PPP) of $1.712 billion, $1.523 billion and $886 billion respectively in 2027, according to IMF projections.
Source: CafeF
