Top and bottom Asian countries’ GDP and GDP per capita trend: According to purchasing power parity, the following is a list of Asian nations by GDP per capita. The International Monetary Fund’s most recent estimations are used to calculate all figures, which are presented in foreign currency. GDP per capita data are provided for the entire state, however, countries with contiguous borders that are partially (but not totally) in Asia are shown here in italics. Italicized and not ranked are dependent territories that are not independent states.
List of Asian countries by GDP (PPP) per capita
More than 4.5 billion people, or 60% of the world’s population, reside in Asia’s 49 separate countries.  Asia has the world’s greatest continental economy in terms of both nominal GDP and purchasing power parity. It also has the quickest economic growth.  In addition, Asia has seen some of the longest modern economic booms, including the Miracle on the Han River in South Korea (1961–1996), the Chinese economic boom (1978–2013), the Tiger Cub Economies in Indonesia, Malaysia, Thailand, the Philippines, and Vietnam (1990–present), and the economic boom in India (1991–present).
China was leading in terms of GDP in the early 1960 but later on, it was overtaken by Japan. Asia’s largest economy is China, which is followed by South Korea, Japan, India, and Indonesia. Together, these five control a huge 76.5% of the Asian economy. The smallest economy in Asia is that of Timor-Leste.
Asia’s wealth varies greatly between and within states, as it does in every other region of the world. This is a result of its enormous size, which entails a large array of various cultures, environments, historical linkages, and governmental structures. In terms of nominal gross domestic product (GDP), the largest economies in Asia are China, Japan, India, South Korea, Indonesia, Saudi Arabia, Turkey, Taiwan, Thailand, and Iran. The largest economies in terms of PPP gross domestic product (GDP) are China, India, Japan, Indonesia, Turkey, South Korea, Saudi Arabia, Iran, and Thailand.
There are six Asian economies with GDPs over $1 trillion and 23 with economies worth over $100 billion. Saudi Arabia will surpass Turkey in 2021 to take over Asia’s seventh-largest economy. The Philippines will be surpassed by the United Arab Emirates. Singapore and Malaysia will surpass Hong Kong SAR. Nineteen economies are among the top 50 economies in the world by GDP, with four Asian economies ranked among the top ten.
Out of 49 economies, 46 would see a gain in nominal GDP and three would see a fall from 2020 to 2021. China will be the biggest contributor, making about $2 trillion and more than half of the growth in the Asian economy. Other major contributions include Iran ($246 bn) and India ($286 bn). Bhutan, Myanmar, and Timor-Leste would be the three countries that would decline.
China, India, Japan, Indonesia, and Turkey are the five largest economies in Asia according to ppp data. In 2021, 12 economies would have GDPs over $1 trillion and 30 would have economies worth more than $100 billion. Uzbekistan and Qatar will surpass Myanmar. Lebanon will drop two positions in the rankings. Four Asian economies rank among the top ten largest in the world, while 21 countries are among the top 50 in terms of gross domestic product (PPP).
Out of 49 economies, 46 would see a gain in GDP (PPP) while three would see a fall from 2020 to 2021. The largest gainers would be China ($2880 billion), India ($1206 billion), Turkey ($328 billion), Japan ($321 billion), and Indonesia ($228 billion). Myanmar, Lebanon, and Timor-Leste would be the three countries that declined.
|Country/Economy||GDP (billions of $)||Share (%)||Rank|
|Islamic Republic of Iran||835.351||1,081.380||246.029||2.97||1.14||6||17|
|Taiwan Province of China||668.156||785.589||117.433||2.16||0.828||9||22|
|United Arab Emirates||358.869||410.158||51.289||1.13||0.432||12||34|
|Hong Kong SAR||346.584||369.722||23.138||1.01||0.389||16||40|
|West Bank and Gaza||15.561||17.343||1.782||0.0476||0.0183||41||125|
What Asian country has the highest GDP per capita?
Singapore’s per-capita GDP, calculated using PPP in 2021, is listed below. Based on data from 37 nations, the average for 2021 was 23899.06 US dollars. The largest amount, 106032.23 dollars, was recorded in Singapore, and the lowest amount, 3878.44 dollars, was recorded in Nepal. Available years for the indicator are 1990 through 2021.
- Afghanistan – $500.
- Yemen – $940.
- Tajikistan – $1,060.
- Kyrgyzstan – $1,160.
- Nepal – $1,190.
- Myanmar – $1,260.
- Pakistan – $1,280.
- Cambodia – $1,490.
List of Asian countries by GDP
|United Arab Emirates||359||421||Dec/20|
What is the GDP of Asia in 2021?
History of GDP of Asia
Ancient and medieval times
From 1 through 1800 AD, China and India alternated as having the largest economy in the world. Many people were drawn to the east by China’s economic might, while many believed that India’s legendary richness and prosperity typified Asia, drawing European trade, exploration, and colonialism. This intense curiosity is illustrated by Columbus’ inadvertent discovery of America while looking for India. While the Straits of Malacca served as a significant sea route, the Silk Road eventually became the primary east-west commerce route in the Asian hinterland.
Most of Asia was governed by colonial powers prior to World War II. Only a small number of states were able to maintain their independence in the face of persistent pressure from a European power. These nations include China, Siam, and Japan. Because of a reformation that took place in the 19th century, Japan in particular was able to grow its economy. The Meiji Restoration, which was a thorough reformation, is now recognized. Long into the 20th century, the Japanese economy was still expanding, which led to a number of shortages of resources needed for further expansion.
As a result, the Japanese began their expansion by annexing a sizable portion of Korea and China, giving them access to critical resources. Southeast Asia was thriving at the same time as a result of trade and the introduction of a number of contemporary new technology. As soon as the Suez Canal was opened in the 1860s, commerce volume grew much more. From 1571 to 1815, Manila had its own Manila galleon, on which goods from China and the Philippine islands were exchanged with Spanish America. From Manila to Acapulco, the Spanish colony of the Philippines was the first Asian nation to engage in commerce with the Americas.
The first transoceanic commerce route stretched overland from what is now Mexico to Veracruz on the Atlantic coast, then on to Havana and Seville. Through the Philippines, Asia sent products such as silk, porcelain, ivory, tobacco, coconuts, and maize to the Americas and Europe. Singapore, established in 1819, became well-known as trade between the east and west grew incredibly quickly. The biggest producers of tin and rubber worldwide were in the former British colony of Malaya, which is now a part of Malaysia. On the other hand, the manufacturing of spices was well-known in the Dutch East Indies, or what is now Indonesia. To control their commerce in Asia, the British and the Dutch established their own trading firms.
The world experienced the Great Depression, or global economic depression, at the beginning of the 1930s. Asia shared in the anguish of both Europe and the United States and was not spared (except for the Soviet Union). Trade volume fell sharply in Asia and the rest of the world. Prices for many commodities started to drop due to the decline in demand, furthering the poverty of both locals and visitors. Japan invaded Manchuria in 1931, followed by the remainder of China and Southeast Asia, beginning the conflict that would eventually become known as the Asia-Pacific theatre of World War II.
Half of Asia’s population, the People’s Republic of China and the Republic of India, chose socialist policies to advance their domestic economies after World War II. The only successful economies outside of the Western World are Japan’s economy and that of the Four Asian Tigers (South Korea, Taiwan, Singapore, and Hong Kong). Due to the success of these four economies, Indonesia, Malaysia, the Philippines, and Thailand opened up their economies and established manufacturing hubs focused on exports, which accelerated their growth throughout the 1980s and 1990s.
Following World War II, the entire economy was undergoing a tremendous transformation under the central direction of the Japanese government. The Miracle on the Han River, often known as South Korea’s incredible economic success story, is another one. After the Korean War, the nation fell into poverty, and until the early 1970s, it was one of the world’s poorest nations (even poorer than North Korea). During this time, numerous conglomerates, or chaebols, such as Samsung, LG Corp, Hyundai, Kia, SK Group, and others saw rapid growth. The world’s most wired nation is now South Korea.
Up to the 1990s, Taiwan and Hong Kong both saw fast growth. Taiwan developed became, and is still, one of the primary manufacturing and R&D hubs for consumer electronics. However, Taiwan’s economy is mostly based on small- to medium-sized firms, unlike Japan and South Korea. On the other hand, Hong Kong’s financial sector expanded quickly as a result of its open market regulations, and many financial organizations chose to locate their Asian headquarters there. Hong Kong has consistently been regarded as having the freest economy in the world, and it is still among the top 5 financial centers in the world.
In the meantime, with their GDPs increasing at rates well above 7% annually in the 1980s and 1990s, South Korea, Taiwan, Hong Kong, and Singapore were known as the Four Asian Tigers. Growing exports were the main driver of their economies. In the early 1990s, the Philippines finally started to open up its sluggish economy.  In 1995, not long after Vietnam and the United States reestablished diplomatic and commercial ties, the Vietnamese economy started to expand.
The large-scale ongoing unrest in Asia is a result of the continent’s wide economic divides. While the economies of the world’s four largest economies—China, Japan, India, and South Korea—continue to grow, and Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Bangladesh, and Sri Lanka have started down the path of sustainable development, the areas immediately adjacent to these nations urgently require aid.
The region has an abundance of inexpensive labor, especially in China and India, where having a large workforce gives them an economic advantage over other nations, but the increase in living standards will eventually cause a slowdown. Asia is also plagued by political issues that jeopardize not only the region’s and the world’s economies but also the general stability of both. Pakistan and India, who share a nuclear weapon, regularly threaten one another, prompting the governments of both countries to spend extensively on the military.
Asia’s economy may also be endangering the world with its rising stockpile of foreign exchange reserves. China (Mainland – $2,454 billion and Hong Kong – $245 billion, June 2010), Japan ($1,019 billion, June 2009), Russia ($456 billion, April 2010), India ($516 billion, July 2020), Taiwan ($372 billion, September 2010), South Korea ($286 billion, July 2010), and Singapore ($206 billion), which are mostly in Asia, are the nations/regions with the largest foreign reserves. This implies that Asian central banks have a significant impact on the interchangeability of the Euro, USD, and GBP. Western economists perceive this as having a negative impact, which has prompted governments in those countries to take appropriate measures.