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CEOWORLD magazine - Latest - Stats Gate - Countries With the Biggest Economy In Asia, 2024

Stats Gate

Countries With the Biggest Economy In Asia, 2024

Ryan MillerRyan MillerStats Gate
Hong Kong

In this report, we will discuss the largest economies in Asia measured by nominal GDP. As of 2024, China has the largest Gross Domestic Product (GDP) in Asia, valued at $17.7 trillion. Japan follows with $4.23 trillion, while India ranks third-highest on the continent with an estimated GDP of $3.73 trillion. The top 10 largest economies in ASIA are China, Japan, India, South Korea, Indonesia, Turkey, Saudi Arabia, Taiwan, Israel, and Thailand. => Full list of the largest economies in the world, 2024.

Countries With the Biggest Economy In Asia, 2024

RankCountryGDP 2024 (in billion U.S. dollars)Gross Average Monthly Wages (USD, at current exchange rates)Life expectancy at birth, total (years)
1 China17700.89112278.21
2 Japan4230.86247684.45
3 India3732.2262867.24
4 South Korea1709.23218083.53
5 Indonesia1417.3834467.57
6 Turkey1154.631476.03
7 Saudi Arabia1069.43188876.94
8 Taiwan751.93176381.04
9 Israel521.68360882.5
10 Thailand512.1950878.72
11 United Arab Emirates509.17366378.71
12 Singapore497.34435083.44
13 Bangladesh446.3426872.38
14 Philippines435.6728669.27
15 Vietnam433.3544873.62
16 Malaysia430.8985574.88
17 Hong Kong385.54307085.49
18 Iran366.4330373.88
19 Pakistan340.6316366.1
20 Iraq297.6958370.38
21 Kazakhstan259.2967370.23
22 Qatar235.5316879.27
23 Kuwait159.68185478.67
24 Oman108.28162672.54
25 Uzbekistan90.3935170.86
26 Turkmenistan81.8265469.26
27 Azerbaijan77.3949469.37
28 Myanmar74.8629065.67
29 Sri Lanka70.5214376.4
30 Jordan50.0259974.26
31 Bahrain44.99172878.76
32 Nepal41.3319868.45
33 Macau38.48211485.4
34 Lebanon37.9483775.05
35 Cyprus32.03231481.2
36 Cambodia30.9421569.58
37 Georgia30.0253471.69
38 Armenia24.5454172.04
39 Yemen21.0437563.75
40 Syria19.718472.06
41 Mongolia18.7833170.98
42 Palestine18.177873.47
43 North Korea16.753773.28
44Brunei Darussalam15.15170874.64
45 Afghanistan14.9320561.98
46Laos (Lao PDR)14.2410868.06
47 Kyrgyzstan12.6822871.9
48 Tajikistan11.8116971.59
49 Maldives6.9792079.92
50 Bhutan2.6844871.82

Gross Domestic Product (GDP) is an estimation of the total value of finished goods and services produced within a country’s borders in a specific period, typically a year. It is commonly used to gauge the size of a country’s economy and its impact on the global economy. GDP is usually measured by the expenditure method, which adds up spending on new consumer goods, new investment spending, government spending, and the value of net exports. Nominal GDP in current US dollars is the most widely used method to measure and compare GDP between countries. It involves converting local prices and currencies into US dollars using currency market exchange rates. This method was used to determine the rankings of countries.

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CEOWORLD magazine - Latest - Stats Gate - Countries With the Biggest Economy In Asia, 2024
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Ryan Miller

Ryan Miller

Ryan Miller is a Senior Economist and Alternate Executive Editor at CEOWORLD magazine. He specializes in global finance, labor laws, international banking, public financial management, fiscal policy, and applied microeconomics. In his current role, he oversees the production of special reports, profiles, and lists for the magazine. Prior to this, he was an Advisor to the Editor-in-Chief for one year. Before that, he served as the lead economist for Central America (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama), Europe, and Central Asia in the magazine's news division. Ryan has extensive experience in economic forecasting, surveillance, and providing economic policy advice.

Follow Ryan on Twitter, Facebook, Instagram, or connect on LinkedIn. Email her at Ryan@ceoworld.biz.
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