richest countries in asia you need to know about
The Gross Domestic Product is the best criteria to determine the wealthiest countries in Asia. Today, we present you with the list of the top 10 richest countries in Asia.
China is the richest country in the Asian continent. Furthermore, China is also the richest country in the world. China’s net worth is $113 trillion. A surge in the net worth was noted in China from $156 trillion in 2000 to $514 trillion in 2020. China’s GDP is $24.27 trillion.
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India is the second richest country in Asia, with a GDP of $8.91 trillion. Despite Indian people struggling with poverty, the country’s economy as a whole is one of the fastest-growing in the world. India’s GDP is expected to grow 7.4 per cent in the current financial year 2022-23.
Japan is the third-wealthiest country in Asia. Japan’s GDP is $5.44 trillion and its net worth is $3 trillion. Japan is also the eighth wealthiest nation in the world. The real GDP of Japan grew by 1.7% in 2021.
With a GDP of $3.35 trillion, Indonesia is the fourth richest country in Asia. Indonesia expects its economy to grow between 5.3% to 5.9% next year. Reportedly, almost every year the number of rich people in Indonesia increases.
With a GDP of $2.45 trillion, Turkey is the fifth richest country in Asia. Turkey is also the tenth-largest country in Asia. Turkey’s economy grew 11 per cent in 2021, the fastest among the G20 countries.
South Korea is the sixth richest country in the Asian continent. South Korea’s GDP is $2.25 trillion. Reportedly, South Korea GDP Annual Growth Rate is projected to trend around 2.70 per cent in 2023.
Saudi Arabia is the seventh richest country in Asia. It is also the richest oil-producing country in the Middle East. Saudi Arabia’s GDP is $1.74 trillion. The International Monetary Fund (IMF) also said that Saudi Arabia’s GDP is expected to grow by 7.6 per cent in 2022.
With a GDP of $1.35 trillion, Thailand is the eighth richest country in Asia. Thailand’s GDP growth is expected to grow by 3.0% in 2022 and 4.5% in 2023. The economy of the country is dependent on exports.
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Iran is the ninth richest country in Asia. Iran’s GDP is $1.12 trillion. Iran ranks second in the world for natural gas reserves and fourth for proven crude oil reserves.
Pakistan is the tenth richest country in Asia. Pakistan’s GDP is $1.10 trillion. Pakistan has maintained a fairly steady annual growth rate since independence from India in 1947.
These are the top 10 richest countries in Asia. Which is your favourite country?
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