10 Richest Countries in Asia according to the IMF 2024, Is there Indonesia?

JAKARTA – Asia Not only is it known as the largest continent, but also a place rich in natural resources. It is not surprising that several countries hold the title of developed and richest country in the world. The International Monetary Fund (IMF) measures the wealth of countries in Asia on a monetary basis at the national level using Gross Domestic Product (GDP).

This economic indicator is most often used to measure the total value of all goods and services produced by a country during a certain time period. This approach makes GDP a glimpse into assessing the economic health of a country.

China topped the rankings with a GDP of USD 24.27 trillion, measured in international Purchasing Power Parity (PPP) dollars. Industry and construction account for nearly half of China’s total GDP.

Also Read: 10 Poorest Countries in the World according to the IMF 2024, There are Unexpected Facts

Major industries include mining and ore processing, textiles, machinery, automobiles, steel, aluminum, coal, and more. Another major economic sector is agriculture. China is the world’s largest agricultural producer with around 300 million farmers.

Although GDP is not the final word on a country’s wealth. For example, China and India are two of the most populous countries in the world so it makes sense that they rank high in terms of total GDP—countries with more workers tend to produce more products overall. However, different metrics can often provide different lists of the richest countries.

The third richest country in Asia is Japan, with more than USD 5.3 trillion. Japan’s great strength is its highly advanced technology sector, which helps the Land of the Rising Sun rank as one of the most innovative countries in the entire world. Japan’s population is declining, thanks to an aging population and a low birth rate, which could cause economic problems in the future.

The richest countries in Asia, ranked by GDP per capita. GDP per capita divides GDP by a country’s population, providing a little more insight into the average person’s well-being.

The following 10 richest countries in Asia in terms of GDP per capita according to the IMF are quoted SINDOnewsfrom World Population Review, Thursday (10/6/2024);

1. China USD18.53 trillion
2. Japan USD11 trillion
3. India USD3,94 triiun
4. Russia USD2.06 trillion
5. South Korea USD1.76 trillion
6. Indonesia USD1.48 trillion
7. Türkiye USD1.11 trillion
8. Saudi Arabia USD1.11 trillion
9. Taiwan USD802.96 billion

(nng)