The economics and growth of Vietnam is ranked seventh out of the world’s 60 largest economies involved in the Grant Thornton Global Dynamism Index (GDI) 2013.

The GDI 2013, an annual research project designed by the Economist Intelligence Unit, ranks the development of the business growth environments of 60 economies over the past 12 months.

The index draws together 22 indicators, including GDP growth, R&D spend, regulatory risk, access to finance and labour productivity, across five areas of dynamism to produce the rankings, according to Grant Thornton.

The index reveals that Vietnam is ranked 7^th in terms of economics and growth, which are calculated based on real GDP growth, private consumption growth, and stock market growth. The country scores 74.8/100 in this indicator.

The overall rank of Vietnam is 27/60, scoring 54/100, according to the report.

The only positive position of the country after economics and growth is at the Labor and human capital indicator, which it is ranked 14.

As for the Business operating environment aspect, Vietnam stands at the #47 place, and #44 when it comes to Science and technology. The country’s financing environment ranks 26 out of 60 economies.

Australia tops the rankings, climbing from seventh in 2012. Chile is the top ranked emerging economy in second place, just ahead of China, which rose 17 places from last year.

Ten additional economies were added to the index this year. Of these, Hong Kong (16), Thailand (19) and Peru (24=) all ranked well in the top half of the index, but none broke into the top ten.

The biggest overall riser was the Philippines which climbed 25 places to rank 21st overall.