HANOI -- Vietnam's gross domestic product (GDP) is forecast to reach about $469.7 billion by the end of 2024, ranking the fifth in Southeast Asia, Vietnam News reported Thursday, citing the International Monetary Fund (IMF).

Indonesia, Thailand, Singapore and the Philippines have taken the leading positions in the forecast.

According to IMF, Vietnam's GDP was estimated to have reached about $433.3 billion in 2023, which was the fifth highest in Southeast Asia.

The UK's independent Center for Economics and Business Research predicted that Vietnam's economic ranking may increase rapidly in the future. The country will rise to the 24th position by 2033, with an economy of $1.05 trillion.

By 2038, with an expected GDP scale of $1.56 trillion, Vietnam will rise to the 21st position, surpassing other economies in the ASEAN region, the center said.