The Vietnam national women's football team dropped six places to No 35 in the first quarter rankings, according to the International Federation of Association Football (FIFA).
The fall was attributed to the team missing out on 2016 Olympic Rio games after coming up short at the qualifying rounds to Asian stronger rivals.
In the Asia region, Vietnam placed seventh after Thailand, who ranks 32nd in the world.
World No 5 Australia holds the lead in Asia, followed by Japan (No 7), the Democratic People’s Republic of Korea (No 9), China (No 12), and the Republic of Korea (No 17).
In the world rankings, the US took top spot, with Germany second and France third.