Top 10 Richest Countries in Asia
The Asian continent is the largest continent, based on area and population. Asia dominates one-third of the earth’s solid surface areas, and is home to nearly three-fifths of the world’s population. It is very interesting to select the 10 richest countries in Asia, given the importance of this impressive continent, and considering the nominal GDP of each country.
10. THAILAND – GDP 174.545 BILLION
Thailand’s currency is the Baht, and Thailand has seen remarkable annual growth from 1999 to 2005. Today, it is considered one of the world’s largest rice exporters, with significant sugar and tapioca production as well. Agriculture is fundamental to the economy, with more than half of the workforce. And tourism is also a sector highlighted for GDP. Bangkok draws attention for industrialization in Thailand. And the US is the main economic partner, after Japan and European countries.
9. SAUDI ARABIA – GDP 307.770 BILLION
The base of Saudi Arabia’s economy is oil extraction, and prominent economic activities have strong government control. It is the second country with the largest oil reserves discovered. It is the world’s leading oil exporter with a leading role in OPEC. And this sector generates around 75% of budget revenues and 40% of GDP; The private sector accounts for about 35% of GDP.
8. IRAN – GDP 830.7 BILLION
The economy is summed up in agricultural production with beetroot, walnuts, date, barley, wheat, sugar cane and fruits. And in livestock stand out sheep, birds and goats. For mining there is copper ore, oil, zinc, iron ore and natural gas. In the industry, the highlight is the extraction and refining of oil, food and transport equipment and fabrics.
7. INDONESIA – GDP 1 TRILLION
Indonesia’s main engine of economic growth is domestic consumption itself. And a positive factor is the growing investment made by local and foreign investors for solid development. Indonesia is one of the first to export oil, rubber and tin. But most of the population is related to subsistence agriculture, fishing and logging.
6. TURKEY – GDP 1.166 TRILLION
In sixth position among the 10 richest countries in Asia is Turkey with economy in a mix of modern industry and trade complex with traditional agricultural sector. The private sector is strong and growing, but the state plays a major role in the basic industry, mining, transportation, communications, and banking.
5. SOUTH KOREA GDP 1.4 TRILLION
The economy is based on fast-growing industry and services, and South Korea is part of the Asian tigers. The main mineral resources are iron, coal and tungsten. From industry, the automotive, steel, shipbuilding, home appliances, cement and chemical sectors are prominent; The country is one of the largest exporters in the world.
4. RUSSIA – GDP 2.2 TRILLION
Russia has natural and human resources in the economy, with relevant economic development, being part of the APEC area, Asia-Pacific Economic Cooperation, an economic bloc for transformation of the Pacific into a free trade region, with American, Asian and Oceanian economies.
3. INDIA – GDP 4 TRILLION
India’s economy is the third most developed Asian economy in terms of nominal GDP. The important products grown are cotton, tea, jute, rice, wheat, corn, tobacco and sugar cane. There are many regions of monocultures for export, the plantations. And India has the second largest cattle herd in the world. Services and industry are in great development.
2. JAPAN – GDP 5.4 TRILLION
This is the third largest economy in the world considering nominal GDP, behind only China and the US. Japan occupies the ninth position in competitiveness of the World Economic Forum. Mining is focused on sulfur, natural asphalt and limestone; and the Japanese industry in machinery, electronics, steel and transportation equipment. Also important are the livestock and agricultural products sectors.
1. CHINA – GDP 10.8 TRILLION
China is Asia’s richest country and is the world’s second largest economy, behind the US. This nation has experienced the greatest economic growth over the last 25 years, and per capita income also grows; occupies in the selection the first position of richest country in the Asian continent.