What rank is Vietnam in GDP per capita?

Vietnam’s Economic Progress: GDP Per Capita and Global Ranking

Vietnam has made significant economic strides in recent years, with its gross domestic product (GDP) per capita experiencing steady growth. According to the International Monetary Fund (IMF), Vietnam’s GDP per capita stood at $4,649 (nominal) in 2024. This places the country at the 120th position globally in terms of per capita income.

However, when considering purchasing power parity (PPP), a measure that adjusts for differences in the cost of living, Vietnam’s GDP per capita increases to $16,193. This elevated figure places Vietnam in the 102nd percentile globally, indicating that Vietnamese citizens have a relatively higher standard of living compared to their income level.

This disparity between nominal and PPP-adjusted GDP per capita highlights Vietnam’s ongoing economic transition. While the country’s per capita income remains below many developed economies, its purchasing power is relatively high, suggesting that Vietnamese consumers can afford a wider range of goods and services.

The Vietnamese economy has experienced robust growth in recent decades, driven by factors such as foreign investment, domestic consumption, and a skilled labor force. The country’s strategic geographic location and membership in the Association of Southeast Asian Nations (ASEAN) have also contributed to its economic expansion.

Vietnam’s government has implemented a number of policies to promote economic growth and improve the standard of living for its citizens. These include investments in education, healthcare, and infrastructure. The government has also focused on attracting foreign investment and promoting trade with other countries.

As Vietnam continues to develop its economy, it is expected that its GDP per capita will continue to rise. This growth will likely be driven by a combination of factors, including increased productivity, urbanization, and a growing middle class.