In 1995, Vietnam’s per capita income reached USD 250, ranking it 9th out of 10 countries in Southeast Asia, just above Myanmar (USD 90). Meanwhile, Singapore is the country with the highest per capita income at USD 23,630.
However, in 1997, Vietnam’s average income surpassed Cambodia and ranked 8th out of 10 countries in Southeast Asia. At the moment, Vietnam’s average income is about USD 330, higher than Myanmar ($130) and Cambodia ($320).
From 1997 to 2021, Vietnam’s average income surpassed Myanmar, Cambodia, and Laos and ranks 7th out of 10 countries in Southeast Asia.
During this period, Vietnam’s average income was about USD 1,463/year, almost 2.37 times higher than Myanmar’s average income (USD 617/year) and 1.9 times higher than Myanmar’s average income. The average income of Cambodia ($768/year) and 1.25 times higher than the average income of Laos ($1,171).
Income per capita of the ASEAN countries in the period 1995-2021. Source: WB.
In 2021, Vietnam’s average income will be USD 3,560. Currently, the average income of Singapore, Brunei, Malaysia, Thailand, Indonesia and the Philippines is still above Vietnam.
The average income of Singapore, Brunei, Malaysia, Thailand, Indonesia, the Philippines is 18 times higher respectively; 8.85 times; Three times; 2 times; 1.16 times and 1.02 times the average income of Vietnam.
For Vietnam, after 26 years of development efforts, Vietnam’s average income has increased from USD 250 in 1995 to USD 3,560 in 2021.
Income per capita in the period 1995-2021. Source: WB.
After 26 years, Vietnam’s average income has increased more than 14 times, which is the highest increase in ASEAN. Other countries have improved but slower, such as Myanmar (12.67 times), Laos (7.2 times), Cambodia (6.2 times), Indonesia (4.18 times), Philippines (3.14 times), Singapore ( 2.71 times), Malaysia (2.7 times), Thailand (2.65 times) and Brunei (2 times).
As a result, Vietnam has actively developed its economy and improved the quality of life of its people. In the 2021-2025 period, Vietnam is focused on continuing to promote economic growth in depth, perfecting the synchronous growth model in economic – technical, economic – social and economic – environmental aspects.
In addition, Vietnam will promote development based on innovation, improve labor productivity, apply scientific and technological progress, improve the quality of human resources, promote comparative advantages and actively integrate internationally.
@ cafefu
