The Southeast Asian economy is projected to achieve a growth rate of 6.3 percent in 2013 and 6.5 percent in 2014 to rank 22nd among the 29th fastest growing economies in the world.

 

The result was released recently by Business Insider, a New York-based business/entertainment website, using the World Bank’s semi-annual Global Economic Prospects report. 

Vietnam relies heavily on exports, with garments, crude oil, rice and machinery being major export items.

The Business Insider list also includes six other countries in Southeast Asia, 16 in Africa, 3 in central Asia, 2 in Latin America and one in the Middle East.

Among the listed countries, 9 are dependent on exports of crude oil, 5 on gold and diamond, 5 on farm produce, while 5 other economies are driven by tourism services.

Only three countries are in the group of 20 industrialised and emerging countries (G-20).

Andrew Burns, a WB official, warned developing countries of the difficult times ahead, as the world economy is not out of the woods yet.

Source: VOV