Hong Kong’s economy depends upon the liberal trade policies of the country. The GDP of the country is $452.686 … The table has current values for GDP, previous releases, historical highs and record lows, release frequency, reported unit and currency plus links to historical data charts. The leading 20 economies atop the top 100 richest countries generated three-quarters (75.6 percent) of the world’s overall Gross Domestic Product (GDP) equaling US$130.031 trillion at October 2020. The beautiful and splendid country is located on the west of the great Persian Gulf. It is considered that UAE has the 2nd largest economy in all Asian countries. Top 10 economic predictions for 2020. Singapore - $64,041 . The country is surrounded by Pearl River delta, Macau and Guangdong. In response, many central banks began to loosen monetary policy. These countries have taken their economy to new levels. Africa is the smallest region represented, with three economies - Nigeria, South Africa and Egypt - together making up $1.1 trillion of global GDP. People from all places come here to relax in their vacations. The country comprises of more than 93% of migrants. Kuwait’s GDP is around $39706. Afghanistan; Afghanistan is currently the poorest country in Asia for now with a GDP capital of $577.21. Former President Donald Trump's administration in December labeled Vietnam a currency manipulator. Get this delivered to your inbox, and more info about our products and services. Read the below piece to know about the most indigent countries in Asia. "By the end of 2021, we think GDP will be only 1.5% lower than it would have been had the crisis not happened. ICELAND – 47,461.19 USD; 7. "With this performance, Vietnam has delivered one of the highest growth (rates) in a year where the rest of the world were in deep recessions," economists from Bank of America Global Research said in a report this month. A Division of NBCUniversal. By definition, the countries with the highest GDP per capita are those with an unusual concentration of wealth. The country started its first oil economy in the late 20th century. These economies are not ranked in the charts here, but are listed in sequence by GDP for comparison. Canada. India. Despite neighboring China — where Covid-19 was first detected — Vietnam has reported just over 1,500 infections and 35 deaths as of Tuesday, according to data compiled by Johns Hopkins University. France. Israel is a Middle East country and is located on the south east shore of the Mediterranean Sea.The land of Israel has its borders connected with Lebanon, Syria, Jordan, Palestinian territory and the Gaza Strip. It measures you in terms of... We provide you with the latest breaking news and videos straight from the entertainment industry. Brunei is also known as the Nation of Brunei or the Abode of Peace. The country is known among the most beautiful places around the world. GERMANY – 46,268.64 USD; 9. The GD… United States. Since the 1980s, the country’s growth is indebted from its booming industrial sector. Asia is rich in diversity. In addition, non-sovereign entities are marked in italics. The Southeast Asian country has also inked several new trade agreements — such as with the U.K. and European Union — which could further boost trade flows, the consultancy added. "Considering that Vietnam has been a major beneficiary of the supply chain relocation/diversification trend out of China over the past several years, we see large scope for growth in Vietnamese exports in the years to come," Fitch Solutions said in a December report. The Chart of the Week is a weekly Visual Capitalist feature on Fridays.. Today’s emerging markets are tomorrow’s powerhouses, according to a recent forecast from Standard Chartered, a multinational bank headquartered in London.. After this huge discovery, the country experienced a lot of modernisation till the year 1982. The oil reserves were discovered in Kuwait in the year 1938. The country is known to possess the finest financial centers of the world. BELGIUM – 46,877.99 USD; 8. South Asia. Vietnam among very few countries to post GDP growth rate of 2.5-3 percent, and the signing of the Regional Comprehensive Economic Partnership (RCEP) agreement in 2020 when Vietnam assumes Asean chairship are among the top 10 domestic economic events in the year. The place is considered as the most luxurious country in the world and in Asia. IBRD. The following are top 10 developed Asian countries of the world: 10. The GDP of the country is around $98814. Vietnam is likely the top-performing Asian economy in 2020 — a feat that was achieved without a single quarter of economic contraction. The country is surrounded by Zhuhai and Pearl River Delta. Bahrain is also known as the Kingdom of Bahrain. Economists said the extent of the recovery in services — especially in tourism — will determine how quickly Vietnam's economy will return to its pre-pandemic path. 4. Bahrain is also known as the Kingdom of Bahrain. Vietnam is likely the top-performing Asian economy in 2020 — a feat that was achieved without a single quarter of economic contraction. But analysts from Australian bank ANZ said they don't expect any immediate actions from the U.S., partly because President Joe Biden's administration "may not take as hard a line on the matter as under President Trump.". The top 10 economies combined made up two-thirds of GDP, while the 42 represented on the chart made up just over 90% of the world’s GDP, and the rest of the world accounted for the remaining 9.8%. The economy of the country depends proportionally to the number of oil reserves it has. China. Japan is surrounded by Asian mainland, stretches of the Okhotsk Sea, East China Sea and Taiwan. Vietnam's services sector, which was badly hit in the pandemic, picked up toward the end of 2020. The wealth of a country is decided based on the gross domestic product (GDP) per capita, which is a measure of a country’s economy in relation to the population. Brunei is a democratic and a self-governing state. Some economists have over the past years questioned the veracity of Vietnam's gross domestic product (GDP) data. NETHERLANDS – 50,793.14 USD ... Ireland’s economy is … There are different kinds of climates and different kinds of cultures present in Asian continent. That's a trend that will persist in the coming years, said economists. Ranking the Richest Countries in the World. 3. Latin America & Caribbean. Japan. Save my name, email, and website in this browser for the next time I comment. Asia is the fastest growing economic region, as well as the largest continental economy by both GDP Nominal and PPP in the world. Recent survey revealed that its GDP (Gross Domestic Product) is around $367.712 billion. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. We want to hear from you. The countries are known to provide their people with amazing and high salaries. The Vietnamese economy grew 2.9% last year from a year ago, according to government estimates released in late December. Singapore is also known as the Republic of Singapore or the Lion city or the Garden city. The GDP of the country is around $34770. This page provides values for GDP reported in several countries part of Asia. Macao SAR will move down by 20 positions from 4th in 2019 to 24th in 2020. With a projected gdp growth rate of 26.21% in 2020, Guyana is the fastest growing economy in the world. GDP (U$ million) Country – 2020: GDP (U$ million) 1: USA: 14,802,081: China: 28,124,970: 2: China: 9,711,244: USA: 22,644,910: 3: Japan: 4,267,492: India: 10,225,943: 4: India: 3,912,911: Japan: 6,196,979: 5: Germany: 2,861,117: Russia: 4,326,987: 6: Russia: 2,221,755: Germany: 3,981,033: 7: United Kingdom: 2,183,277: Brazil: 3,868,813: 8: France: 2,154,399: United … Who is the wealthiest man in the world in 2020? The country has a highly developed market economy, which ranks towards the top on global lists of the freest and most competitive economies. Note that many of leading GDP-per-capita (nominal) jurisdictions, such as Ireland, are tax havens. GDP Nominal (in characters) – $1,931,133,938,991 GDP (PPP) – $3.596 trillion Continent – South America Currency – Brazilian real Brazil has shown one of the largest growth rates in the World, as with an annual GDP growth rate of 5%.This country has a developing economy, as according to our research, it is in the 9th position in our list Top 10 GDP … They provide an active and important place to tourism. This is a materialistic world in many ways. Launched today, the QS Asia University Rankings 2020 is comprised of 550 universities, with 68 new entrants featured in the index this year. ... Singapore is also named as the most influential city in Asia by Forbes. Still, his forecast of a 10% growth for Vietnam this year is one of the most optimistic in the market. 8. The country has been investing a lot in the banking and tourism sector. Italy. Nevertheless, many economists appeared to be optimistic that the country's economic growth will accelerate this year. Top 10 Poorest Countries In Asia 2020 Afghanistan. These indicators include … IDA. I will also explain why those nations are financially the largest & strongest in world ... With a GDP of $2.72 trillion, the UK holds the seventh spot in GDP by country in 2019-2020. Kuwait is also known as the state of Kuwait. Qatar is only surrounded by Saudi Arabia. One potential threat to the growth in Vietnam's exports — and therefore its overall economic outlook — is sanctions by the U.S., said Gareth Leather, senior Asia economist at Capital Economics, in a report this month. Japan is a country that has reached a really far state because of the enhancement in technology. It is geographically located in South … 17 December 2019 Nariman Behravesh, Ph.D. Among the top 50, Taiwan's Economic rank would move up by six positions, followed by Hungary (+4). This list is for Top 10 Economies in the world by GDP by country in 2019. All the countries mentioned above are known to enhance and upgrade their economy. Japan’s economy largely depends upon the industrialisation, import and export, manufacturing of goods and many others. Here is a list of Top 10 richest countries in Europe in 2020 having highest Per Capita Income GDP on the basis of Purchasing Power Parity (PPP). Here's a look at how Vietnam became the top-performing economy in the region, and what lies ahead for the country. Manufacturing was widely credited for Vietnam's outperformance, with production growing on the back of steady export demand. The country has evolved a lot and is among the very few countries that have 0% public debt. ... in … The city-state of Singapore is the richest economy in Southeast Asia when ranked in terms of GDP per capita. Top 11 Most Dangerous Cruise Ports In The World, Top 10 Best Leather Jacket Brands In The World, Top 10 Most Beautiful Women In The World 2020. Sign up for free newsletters and get more CNBC delivered to your inbox. The beautiful and splendid country is located on the west of the great Persian Gulf. The country is known to produce great and amazing products. The literal meaning of Bahrain according to Arabic is dual sea. Government estimates showed the Vietnamese economy growing 2.9% last year from a year ago, better than China's forecast-beating 2.3% growth during the same period. Compared to GDP by purchasing-power-parity, UK drops to ninth place with a $3.16 trillion. Middle East & North Africa. The country is surrounded by Saudi Arabia and Iraq. Number of Economies: 217. 10. The Asian giant has … The economy of the country largely depends on the tourism. Brunei is located on the north part of Borneo. 9. Singapore’s economy is directly proportional to the tourism of the country. The economy and GDP of the country is directly proportional to the trade carried out by the people of that country. Periodicity: ... 2020-10-05. Japan is known to provide you with what you need. The GDP is directly proportional to the banking, tourism and its income from oil. GDP (US$million) World: 83,844,988 1 United States: 20,807,269 2 China: 14,860,775 3 Japan: 4,910,580 4 Germany: 3,780,553 5 United Kingdom: 2,638,296 6 India: 2,592,583 7 France: 2,551,451 8 Italy: 1,848,222 9 Canada: 1,600,264 10 South Korea: 1,586,786 11 Russia: 1,464,078 12 Brazil: 1,363,767 13 Australia: 1,334,688 14 Spain: … The GDP of the country is around $64584. Guyana is followed by South Sudan (4.11%), Bangladesh (3.80%), and Egypt (3.55%). The GDP of the country has increased a lot and the current GDP is around $55111. Foreign direct investment inflows as per cent of gross domestic product, 2019. 10. India’s economy is the fifth-largest in the world with a GDP of $2.94 trillion, … Gross domestic product ranking table. Israel is known for the growth and enhancement in technology. Identifier: 90a34ea4-8a5c … The economy of Benin is expected to grow at 2% during 2020 to $15.29 billion (Rank: 120). Qatar is considered among the richest countries of the world. That would allow the U.S. to take punitive actions such as tariffs on imports from Vietnam. The place is known for its business friendly ambience. 1. Got a confidential news tip? The GDP of the country is $39767. In this article, we are going to list the top 10 fastest growing economies in 2020. top 10 largest economies in the world 2020 and all you need to know. You have entered an incorrect email address! The economy of the country largely depends on the tourism. The literal meaning of Bahrain according to Arabic is dual sea. The country underwent a period of geopolitical instability and the country’s economy faced a lot of downfall because of the stock market crash. 5. Different countries of the continent have different speciality in business and trade. That's better than China's forecast-beating 2.3% growth during the same period. The GDP of the country is $59451. Brazil. The people of the country are paid really well. Other notable gainers in top 20 are : Denmark, Germany and Belgium climbing 3 spots each. In 2020, the estimated total GDP of all ASEAN states amounted to approximately 3.11 trillion U.S. dollars, a significant increase from the previous years. Japan is a self-governing country that is located in the Pacific Ocean. ... inflows were 3 per cent higher than in 2018, but remained below their level of 2017. The economy of the country is directly proportional to the natural gas products and the petroleum products. ... which is a measure of a country’s economy in relation to the population. Taiwan is a democratic and a sovereign state that is surrounded by China, Japan and Philippines. Moreover, Asia is the site of some of the world's longest modern economic booms, starting from the Japanese economic … The country is surrounded by the Peninsula Malaysia and Indonesia’s Riau Island. The country is prominent for not being a member of the United Nations and still is among the richest countries of Asia. The largest continent of the world is Asia. World’s Largest Economies in 2030. The economy of the country is directly proportional to the natural gas and oil reserved. Only these four countries have a gdp growth rate above 3%. Taiwan’s economy has upgraded a lot because of the enhancement of industrialisation. The country started its first oil economy in the late 20th century. Business Review Asia took a look at the biggest economies in the continent based on their 2016 GDP, and what factors are driving these economies to the top. Qatar is also known as the state of Qatar. Before giving an in-depth discussion on the Largest Economies in the World, below is a highlight of those countries that are responsible for a large chunk of the world’s economy. internationally hailed as a model for other developing nations. The GDP of the country is estimated to be around $34584. The country is present in the Western Asia and is located at the tip of Persian Gulf. Taiwan is also known as the Republic of China. The country's handling of the virus outbreak was internationally hailed as a model for other developing nations to follow, and helped its economy to continue growing throughout 2020. The list given above will give you an overview about the richest Asian countries of the world. However, as global exporters adjusted to the new world of higher … Occupying a portion of Borneo Island and the entire Malaysian Peninsula, a Southeast Asian nation known as Malaysia is in the 10thplace of the top 10 largest economies in Asia this 2016. This list of top 10 most emerging markets in the world includes countries taken from the Bloomberg survey of economists for 2015. The GDP of the country is around $55383. Not every Asian economy has reported fourth-quarter and full-year economic numbers. © 2021 CNBC LLC. The bank forecast the Vietnamese economy growing 9.3% in 2021 — a much higher growth rate than the 6.7% expansion projected by the World Bank. ... International Monetary Fund (2020 estimates) World Bank (2019) United Nations (2019) Rank … 6. The country is known for the hi-tech and business friendly environment. Discover the top 10 universities in Asia based on the QS Asia University Rankings 2021. Asia’s share of global GDP, which rose to 28 percent last year from 20 percent in 2010, will likely reach 35 percent by 2030 -- matching that of the euro area and U.S. combined. The economy has faced an increase in economy due to the tourism. Germany. The survey shows a pretty interesting picture of which countries have the fastest growing economies in the world in 2015 and surprisingly enough, … The US could be down to third place in the global GDP rankings while the EU27’s share of world GDP could fall below 10% by 2050 UK could be down to 10th place by 2050, France out of the top 10 and Italy out of the top 20 as they are overtaken by faster growing emerging economies like Mexico, Turkey and Vietnam respectively Vietnam's manufacturing sector was widely credited for the economy's outperformance last year, with production growing on the back of steady export demand. The list given below will enhance your knowledge about the loaded top 10 richest Asian countries as of 2020. The rankings are compiled using 11 indicators, each weighted according to their importance in the index. In nominal ranking, Australia will enter Brazil in the top 10 list. This continent is not just huge but is also the most populated continent, with around 4.4 billion people present on mother earth. Leather described the outlook for tourism as "poor." The Three Richest Southeast Asian Economies 1. This is one of the smallest gaps in the region," he wrote. Twenty-six economies will experience a positive growth rate in 2020. Economy Coverage: High Income. The country has been investing a lot in the banking and tourism sector. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - GDP. Hong Kong is also known as the Hong Kong Special Administrative Region of the People’s Republic of China. The largest recipient of FDI was the United States of America, followed by China and Singapore. SINGAPORE — Vietnam is likely the top-performing Asian economy in 2020 — a feat that was achieved without a single quarter of economic contraction at a time when many economies globally were weighed down by the coronavirus pandemic. The country has made its own place in the world. The economy of the country is around $36899. United Arab Emirates: The United Arab Emirates is the State that has total seven emirates in it. The following are the ten outstanding events as selected by the Vietnam News Agency. These countries are well equipped with the skills of augmentation of their economy by using the things that they are best in. Release Date: Periodicity: Annual. Data is a real-time snapshot *Data is delayed at least 15 minutes. 1. 10. Find the data on UNCTADstat. 2. Almost every individual of Qatar is a millionaire and is indulged in more than one business. That strong economic run will likely continue this year, said the Bank of America economists. 1. The economy of Asia comprises more than 4.5 billion people (60% of the world population) living in 49 different nations. The global total for economic wealth increased by 54.7 percent since 2009 when the Great Recession was deepening. But estimates compiled by CNBC from official sources — where available — and institutions such as the International Monetary Fund showed Vietnam outperforming all its regional peers last year. The people of the country are known to possess great purchasing power. Macau’s economy is directly proportional to the business meetings and the tourism. The economy of the country depends largely on the technology center Tel Aviv. Israel is also known as the State of Israel. All Rights Reserved. Macau also known as the Hong Kong Special Administrative Region of the People’s Republic of China is among the most visited places of Asia. In 2019, seven of the top 20 host economies were developing economies. 7. Table of Contents. Skip to main content Data Catalog Toggle navigation ... Europe & Central Asia. AUSTRIA – 50,546.70 USD; 6. Low Income. "The poor prospects for the tourism sector will continue to delay a full recovery, and is the main reason we expect a small output gap to persist.". Global growth weakened considerably in 2019, falling from 3.2% in 2018 to of 2.6; the main culprits, the trade wars and weakening growth in China. Afghanistan officially known as the Islamic Republic of Afghanistan is a country in the heart of Asia. The bank sees developing economies like Indonesia, Turkey, Brazil, and Egypt all moving up the … United Kingdom. Macau is a place where the population usually consists of the professionals and entrepreneurs. Here are the top 20 richest countries in Asia based on GDP per capita taken from 2019 data listed by World’s Richest …

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