Asia gdp 2024 in trillion. 4 trillion yuan to 129.

Asia gdp 2024 in trillion Below are the ten richest Asian countries in terms of GDP per capita in October 2021, according to the International Monetary Fund (IMF). 26 trillion). As the largest economy in Southeast Asia, Indonesia has a diverse economic landscape comprising a mix of industries, including agriculture, textile Mar 24, 2024 · From Spending Spree to Spending Smartly: Asia/Pacific Businesses Surpass $1. 29 trillion in 2024. On quarterly basis, the country’s Q2 economy expanded by 0. 021% expansion in its trillion-dollar economy. 5% in 2023. 9 trillion and a population of 647 million people. Europe has a lower debt to GDP than North America and the Asia-Pacific, but European budgets likely face increasing pressures looking ahead, due to sluggish economic growth, trade wars, and aging populations. Asia accounts for 40. Jan 12, 2024 · The total nominal GDP of the ten ASEAN nations measured in US dollar terms amounted to USD 3. 49 trillion) according to data from the NBS. 23% of the entire world's gdp (ppp). [1] The top 3 largest economies in Asia are China, Japan and India. 8% for 2023. Let’s take a look at what powers China’s modern economy. S. Right behind, China is expected to shine with a GDP of $19. Surge in foreign investments Feb 27, 2024 · After climbing since the outbreak of COVID-19, Asia-Pacific sovereign borrowing should stabilize in 2024. It’s the largest economy in Asia 5. America’s GDP in PPP terms was $27. 53 trillion, fueled by its rapid industrial growth and a growing middle class. 4 trillion ($17. dollars, which was the highest GDP across the Asia-Pacific region. 429 trillion at the end of 2023 in puchasing power partity terms. 8 per cent. 5 2. A budget deficit of 40. 2 Oct 24, 2023 · "India's nominal GDP measured in $ terms is forecast to rise from $ 3. $1 trillion in 2024, and 34 would have an economy above Int. 4 percent in the third quarter was its third-highest attained in the past five years, while Singapore saw its strongest quarterly GDP growth since 2022 at 5. 866 trillion at the end of 2023 in puchasing power partity terms. The Gross Domestic Product (GDP) in Saudi Arabia is estimated to be $2. 7 trillion yuan at the end of 2023. 6 trillion in 2022, more than doubling compared with total GDP of USD 1. Japan follows with $4. 4 trillion pushing China’s 2022 PPP GDP from 119% of the US to 125%. [28] GDP by Country 2024: 1. The Asian economy, comprising 48 economies, in 2022 is projected around US$ 41. 8 percent in the third quarter of 2024 (table 1), according to the "advance" estimate released by the U. 322%. 7% in 2024, followed by a GDP growth rate of 1. 5 trillion), China (US$ 17. With a total GDP of approximately $1. 78 trillion in 2024. 121 trillion dollars by the end of 2024 by World Economics - 41% larger than official estimates. Based on PPP, India's economy in 2024 is projected at 16,020 billion international dollars, 3rd highest in the world, behind the United States and China. India shares almost 17 percent of the total of Asia's GDP (PPP). Dec 26, 2024 · The World Bank raised on Thursday (Dec 26) its forecast for China's economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the Jun 21, 2023 · In this article, we look at the 20 largest economies in Asia. 5% annually, driven largely by emerging Asian markets, particularly China and India. The latest ICP assessment collected data in 2021, four years after the 2017 survey. Dec 20, 2024 · Southeast Asia economies continued to deliver credible economic performance, although growth momentum was mixed across the region. Sep 3, 2024 · The WTTC estimates the industry's contribution to global GDP in 2024 will increase 12. Japan $4. In ppp terms, its shares go close to 47. 96 Trillion, 2. Beyond the top three, Asia’s economy is diverse and dynamic. This surge heralds a golden era for the travel, tourism, and hospitality sectors across the globe, buoyed by significant enhancements in travel and hotel infrastructure spanning North America, Asia, Europe GDP (millions of current international dollar) by country Country Percent [1] [2] [3] Nominal This page was last edited on 25 October 2024, at 00:11 (UTC). In terms of nominal GDP, China is the world’s second-largest economy. Renewable energy investment in Southeast Asia increased by 9% in 2023. 6% last year, driven by strong domestic consumption and government policies, the country looks set to continue its upward trajectory in 2024. 3 trillion in 2023, or 3% of global GDP. India contributes 8. Feb 21, 2018 · Asia Pacific, Singapore, 21 February 2018 – By 2021, digital transformation will add an estimated USD1. Sectors like services, industry, agriculture, and allied sectors contribute to it. 54 trillion), Thailand (US$543. 443 trillion (GDP PPP Constant Prices) is uplifted in the World Economics database by no less than 59. 89 trillion, with a 6. The GDP grew by 9% year-on-year, he said. In PPP terms, its shares go above 48% with Int. Jul 6, 2024 · China stands out as the undisputed economic powerhouse 5, with a GDP of $18. Jan 6, 2025 · Jakarta – Indonesia's unaudited budget deficit for 2024 was smaller than the government's earlier estimate, official data showed on Monday, providing a buffer for fiscal needs in 2025 after authorities cancelled a planned tax hike. A. 5 trillion in 2022 to $ 7. Preliminary estimates on the economic contribution of tourism, measured in tourism direct gross domestic product (TDGDP) point to US$3. The bloc currently comprises 10 member countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. 4 billion). The average maturity of the outstanding local debt is 9. 28 Trillion, 5. 8 percent. SINGAPORE, 25 March 2024 – Recent data from the IDC Worldwide ICT Spending Guide: Enterprise and SMB by Industry reveals that the total ICT Spending in the region has surged past the $1. China is the largest economy in Asia, 2024 GDP (nominal) in billions — Asia: 42. 17 trillion, according to the International Monetary Fund (IMF) October 2024 data. 03%, reflecting consistent but moderated performance. Jul 5, 2024 · According to the CBO, the United States GDP will increase steadily over the next decade from 28. 7 trillion in 2024, with growth occurring across all regions: - Asia Pacific will grow 5. Dec 23, 2024 · This graphic illustrates the projected growth of per-capita GDP for selected Asian nations between 2023 and 2026, based on data compiled by HSBC as of November 2024. 11 trillion) and makes up almost 80% of the South Asian economy; it is the world's 5th largest economy in nominal terms and the world's 3rd largest economy by purchasing power adjusted exchange rates (US$14. Germany and France are both expected to grow by almost 0. 6 trillion in 2023, almost 95% of the US$1. Jul 5, 2021 · The Asian economy, comprising 48 economies, in 2021 is projected around US$36. Average per capita GDP in 2021 was more than $42,300. 4 trillion yuan to 129. 7 per cent increase on 2019’s contribution and accounting for 7. Oct 8, 2024 · As of 2024, the global GDP is estimated to be around $90 trillion, with the United States, China, and Japan being the largest contributors. Jan 19, 2024 · Global tech spend is expected to reach $4. Jul 25, 2024 · The mobile industry is expected to contribute over USD 1 trillion to the Asia-Pacific economy by 2030, driven by the rapid adoption of 5G technologies in the region. GDP (current US$) - East Asia & Pacific from The World Bank: Data Oct 30, 2024 · Real gross domestic product (GDP) increased at an annual rate of 2. 7 percent. Apr 1, 2024 · As of 2024, China has the largest Gross Domestic Product (GDP) in Asia, valued at $17. You can skip our detailed analysis of growing Asian economic power and head directly to the 5 Largest Economies in Asia. Nov 13, 2024 · 5. 23%; In April 2024, the IMF estimated India’s GDP growth at 6. 7 billion, ranking it fifth in the region after countries such as Indonesia (US$1. 4 trillion) to restore bullishness in the world’s second-largest economy. Nov 14, 2024 · How China Stacks Up vs. Regarding nominal GDP, the U. 1 trillion to Asia Pacific’s GDP by 2024 and contribute to the region’s economic recovery post COVID-19, according to the 2020 Asia Pacific SMB Digital Maturity Study. The 19th Southeast Asia's largest economy closed 2024 with a budget gap of 507. On Thursday, the World Bank raised its forecast for China's economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the Nov 5, 2024 · What are the Key Highlights of the Asia-Pacific Climate Report 2024? Economic Impacts of Climate Change: Annual damages could climb to USD 3 trillion by 2070. Dec 17, 2024 · This is far higher than the regional average, standing at 77. 86 trillion, of which Indonesia took the lead in the region with an estimated GDP of about US$1. to ₹ 2. Chinese Economy Lagging India and Southeast Asian nations are projected to achieve an average per-capita GDP growth of 6. This optimistic outlook was shared by ASEAN Economic Community (AEC) Deputy Secretary-General Satvinder Singh during the “Vision 2024: Age of ASEAN” […] China’s digital economy continued to expand robustly in 2022, topping 50. 4 days ago · Region: South Asia; Annual GDP Growth Rate: 7%; Share of global GDP, adjusted for PPP: 8. Nov 22, 2024 · Singapore on Friday upgraded its economic outlook for 2024 as third quarter gross domestic product growth beat expectations and initial estimates, helped by stronger semiconductor production and . 22% of the world's GDP. In the second quarter, real GDP increased 3. Aug 31, 2024 · Indonesia, Southeast Asia's largest economy, maintains its lead with a $1. 7 trillion in 2024, growing 5. 68 trillion (US$8. 7%, anticipating a recovery in travel and tourism alongside private consumption offsetting a slowdown in exports. Nov 20, 2024 · 2025 GDP: USD 3. 73 trillion. SINGAPORE, 14 March 2024 – In a recent FutureScape report, IDC FutureScape: Worldwide Digital Business Strategies 2024 Predictions — Asia/Pacific (excluding Japan) Implications, IDC predicts that in 2024, digital spending growth will outpace that of the region’s economy. The mobile industry continues to underpin the rapid digital transformation in Asia Pacific, with advanced mobile networks enabling innovative use cases for consumers and enterprises. The Asian Development Bank (ADB)’s recent Asia-Pacific Climate Report 2024 highlights the urgency: climate change could erode the region’s economic foundation without substantial emissions reductions and resilience-building measures. 7% of GDP, but wider than 2023's Oct 3, 2024 · The digital economy, which accounted for 4. With a projected GDP growth of 7%, it has solidified its position as the fifth-largest economy globally. That list of 30 countries includes other Asian heavyweights like: Japan ($4. 5 trillion in 2022 to $7. External trade is likely to grow by over $393 billion over the next decade as India benefits from shifting geopolitical dynamics. Nov 2, 2024 · Eight economies would have a GDP above Int. Dec 18, 2024 · This means that in 2050 the population of Asia will be the same as the entire world population was in 1990. The Asian Development Outlook analyzes economic and development issues in developing countries in Asia. 3 trillion mark in 2023 and is expected to grow at a robust compound annual growth rate Countries by estimated nominal GDP in 2024: n12 > $20 trillion $10–20 trillion $5 2024 5: Asia and Pacific: $20,060: 2024 6: Africa: Oct 25, 2023 · India's nominal GDP, measured in USD terms, is predicted to grow from $3. Achieving this milestone would elevate the Philippines to a status comparable to these nations. 9 billion) in 2024, equating to a 5. 9 trillion), and South Korea ($1. However, concerns loom for 2025, where the risks include escalating trade wars, geopolitical tensions and shifting policies, clouding the outlook. 2 trillion dollars, South Korea at 1. These economies accounted for 7 percent of global GDP growth between 1991 and 2021. 10 Trillion Sep 3, 2024 · The WTTC’s forecast of a $11. People 2. 33 trillion, thanks to its bustling consumer market and innovative industries. (GDP) 2024; Countries Sep 22, 2023 · In 2021, Advanced Asia accounted for 3 percent of the global population (213 million) and 9 percent of global GDP ($9 trillion). Dec 26, 2024 · The revision of 2023 GDP would not have a significant impact on China's 2024 GDP growth rate, Lin Tao, the bureau's deputy head, told the same briefing, however. 17 hours ago · AKIPRESS. The move to refinance local government debt, approved by the Standing Committee of the National People’s Congress, marks the first such undertaking since 2015 to raise Mar 22, 2024 · BCG forecasts that the value of ASEAN’s digital industries will increase from $300 billion to $1 trillion by 2030. 5% with Int. China’s GDP in the first half of 2024 reached RMB 61. Aug 7, 2024 · The ASEAN region is projected to advance from the world’s fifth to fourth-largest economy by 2030, with its GDP expected to rise by 51% to $3. Smaller 2024 issuances out of Japan account for much of the decline. Nov 20, 2024 · Indonesia's economy expanded by 4. 8 trillion rupiah ($31. 53 trillion. Dec 17, 2024 · The new deficit plan compares with an initial target of 3% of GDP for 2024, point of GDP in spending amounts to about 1. Mar 11, 2024 · Last year saw the GDP scale of Southeast Asia as a whole reach about US$3. Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Jul 17, 2024 · China H1 2024 GDP growth. 1% of the world GDP. 87 trillion), the world’s 4th, 5th, and 12th largest economies. $94. 6 to 3. 3% in 2024 — a significant improvement on 2023’s 3. The official estimate for Saudi Arabia's GDP published by the World Bank was $1. 8 trillion in 2023 from $2. 7 trillion U. 93 trillion, estimated to be $35. Vietnam will overtake Pakistan. Under this program, local governments can receive 500 billion yuan of loans each year but this will not be enough to cover the interest payment of the outstanding local debt, which has grown to 43. investors is imperative as Southeast Asia remains woefully off-track despite significant progress in 2023. India's rapid economic expansion is driven by strong domestic demand and Feb 21, 2024 · China's first-tier economic heavyweight cities - 26 cities each with a GDP of more than 1 trillion yuan ($139. Mar 14, 2024 · HANOI, March 14 (Xinhua) -- Vietnam's gross domestic product (GDP) is forecast to reach about 469. 19 billion, followed by Singapore and the Philippines at US$497. Economy. The digital economy’s share of GDP climbed to 41. In Q2 2024, China’s GDP grew at 4. 5 trillion in that year. According to the IMF’s World Economic Outlook, Asia Pacific will lead growth. Meanwhile, the Asian Development Bank (ADB) has predicted Thailand's economic growth in 2024 to be at 3. 8% annually, according to a new business study released today. 8 trillion, South Korea ranks among the top economies globally, underscoring its importance on the world stage. dollars by the end of 2024, ranking the fifth in Southeast Asia, Vietnam News reported Thursday, citing the International Monetary Fund (IMF). 1 Human Development Index (HDI) Amidst mounting economic challenges both domestically and globally, China continues to make positive progress in Dec 26, 2024 · The World Bank raised on Thursday its forecast for China's economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector Nov 2, 2024 · Asia is the largest continental economy in the world. China $18. Mar 12, 2024 · Over the past year, these three economic powerhouses achieved notable milestones: Guangdong emerged as the country’s first province to surpass the RMB 13 trillion mark in GDP, Jiangsu proudly claimed the distinction of hosting five “trillion-yuan cities,” and Shandong’s GDP breached RMB 9 trillion for the first time. And the conclusion is that China’s GDP was undervalued by US$1. 39 trillion dollars. 29 per cent of GDP, smaller than an earlier estimate of 2. Being the 4th largest Asian economy, its nominal GDP is more than 1. 5% and shadow economy uplift of 43. 15 economies would have GDP above Int. 4 years Sep 2, 2024 · If this happens, the Philippines would be on par with economies like Canada, which currently has a GDP of 2. 42 trillion. Jul 25, 2024 · SINGAPORE, July 25, 2024 /PRNewswire/ — The mobile industry’s contribution to Asia Pacific’s economy will grow beyond $1 trillion by 2030, with faster adoption of 5G technologies in the region meaning it will exceed average global growth rates, according to the GSMA’s Mobile Economy Asia Pacific 2024 report launched today. Oct 24, 2024 · Real gross domestic product (GDP) growth in the Asia-Pacific region in 2023, with a forecast until 2029, by country or territory [Graph], IMF, October 24, 2024. 8% from the previous year, second only to the US at USD 29. 89 trillion; Annual GDP Growth Rate: 7%; GDP Per Capita: $2,700; Share of Global GDP (PPP): 8. On a nominal basis, the US will be ahead of China by $10. On the other hand, India has a 7. India $4. 0 percent. Jul 13, 2023 · Baiturrahman Grand Mosque in Banda Aceh, symbol of Islamic sharia law's application in Aceh Indonesia lands in the 5th place, its growing economy marked by a GDP of about 1. 7 percent from the first quarter. 2 trillion dollars. 4 trillion debt swap package China announced today (November 8) could be more pivotal for Xi Jinping’s economy than meets the eye. 1 trillion, making up 10% of global GDP. Asia is the largest continental economy since the year 2010 after overtaking Europe. 6% year-on-year increase. 5% in 2022. Dec 16, 2024 · China’s 2024 GDP reached USD 18. 6 trillion yen (US$275. 2% in 2024. 1 trillion) by 2031 and foster international cooperation with strategic markets such as the ASEAN bloc, which boasts a GDP of more than US$2. Asian Economies. This rapid pace of economic expansion would result in the size of the Indian GDP exceeding Japanese GDP by 2030, making India the second largest economy in the Asia-Pacific region," it said. Middle East and Central Asia: 4. 5 hours ago · The UAE's CEPA programme is a cornerstone of its efforts to drive non-oil foreign trade to AED 4 trillion (US$1. 6 trillion yuan at the end of August 2024 from 40. Bureau of Economic Analysis. With an $18 trillion economic output in 2024, China’s GDP is nearly $2 trillion larger than 30 economies combined: $16. 11 trillion, ranking second in Asia 5. 6% in 2025. 9 percent, a 0. 817 trillion in 2024 Nov 5, 2024 · Li said China’s total debt, including 30 trillion yuan of central government loans and 42. Germany has the lowest GDP growth rate of 0. Nov 30, 2024 · India shares around 9. 16 trillion to Asia Pacific’s GDP, and increase the growth rate by 0. 1 trillion in 2023. Other key sectors include creative industries, defense, higher education, motor vehicles and pharmaceuticals. 65 trillion U. COM - The gross domestic product totaled 1. 5% over the 2023–2026 period. Nov 22, 2024 · The Southeast Asian digital economy is reaching new heights, achieving $11 billion in profits in 2024—a remarkable 2. 007% among trillion-dollar economies, followed by Japan with the 2nd best figure of 0. 5 trillion soms in 2024 according to preliminary estimations, National Statistical Committee Chairman Baktybek Kudaibergenov told a press conference on January 14. 3 trillion by 2030. 8 trillion or US$33 Oct 18, 2024 · South Korea GDP per capita and economic growth As of 2024, South Korea’s GDP per capita sits at an impressive $34,000, reflecting the country’s strong economic output and high standard of living. In 2023, China's gross domestic product amounted to approximately 17. 6%, derived from a base year related uplift of 16. 4% of GDP in 2024. $68. S&P Global Ratings expects the region's long-term commercial borrowing to amount to US$3. " MP finds difference between nominal and real GDP of 503 billion soms The Gross Domestic Product (GDP) in Bangladesh is estimated to be $2. Among major economies, the GDP, PPP (current international $) in South Asia was reported at 18278949941870 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. India will become USD 4 trillion economy by FY 2024-25, USD 5 Apr 23, 2024 · Indonesia, Southeast Asia's largest economy, is rapidly emerging as a powerhouse. 35 billion), Singapore (US$520. Jan 18, 2024 · Global tech spend is expected to reach $4. Jul 19, 2024 · China’s GDP (PPP) in 2023 was $32. [Online]. 53 trillion [2] 2 Japan: Dec 20, 2023 · The US alone has a GDP of $26. 1 trillion, $3. 6 trillion in 2022, positioning it as the ˜fth largest economy in the world trailing behind the United States ($25. Austria, Finland, and Ireland have negative growth rates among economies with GDP per capita above $50k. Nov 3, 2024 · In PPP data, the five largest economies of Asia are China, India, Japan, Indonesia, and Türkiye. is still the world’s largest economy. 2 trillion), and Germany (US$ 4. However, renewable energy 1 day ago · The combined market cap of the top 50 companies in the Asia-Pacific (APAC) region surged to $8. 8 trillion in nominal terms, calculated by taking figures from the IMF. 77%. In the first three quarters of 2024, GDP grew by 5. 2% in 2014 to 4. 70 trillion dollars. 5%. 3 Trillion ICT Budget Despite Uncertainties. 35 trillion in 2023 and is expected to be $28. 27 trillion, up 4. 9% in 2024 and 2025, according to the Asian Development Bank. It allows for an analysis of the economic growth trends across different regions globally. $1 trillion in 2024, 30 would have an economy above Int. Japan followed with a GDP of around 4. Germany $4. 5 trillion soms: President Japarov "This is crime and official forgery. Jan 9, 2024 · An important consideration in anticipating the direction of Japan’s economy in 2024 is whether prices and wages can form a virtuous economic circle. Indonesia, the largest economy in Southeast Asia, continues to lead the region with a GDP of approximately $1. Nov 25, 2024 · The United States is likely to stay on top as the largest economy in the world, boasting a remarkable GDP of $30. Region: South Asia; GDP (2024): $3. 5 trillion in 2025, buoyed by rich natural resources and a rapidly expanding middle This chart presents the GDP rankings of continents from 1980 to 2024. 5 trillion. United States $27. This growth is projected to surpass the global average growth rates, as stated in the GSMA's Mobile Economy Asia Pacific 2024 report. Sep 20, 2024 · The economic state in Asia In 2020, China led the Asia Pacific region in terms of GDP with approximately 14. 1% year-over-year to $11. Oct 29, 2024 · The US and China's margins are coming down in nominal rankings as China's GDP growth rate in 2024 (4. 1%, to reach $15,822 trillion in 2022. 7 trillion dollars, and Italy with 2. Four European economies are in the top ten list, and seventeen economies are within the top 50 world GDP rankings. Jan 18, 2024 · The Asia Pacific region will see the fastest growth; six countries forecasted to have the largest GDP growth are in Asia. Asia to drive 60% of global GDP growth This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - GDP. GDP per capita divides the GDP by the number of citizens a country has, giving a bit more insight into the welfare of the average person. 1 trillion in 2024, reflecting a “20. 7 billion U. 56 trillion U. India rounds out the top three, with a GDP of $3. 70 Trillion, 4. Jan 6, 2025 · Southeast Asia's largest economy closed 2024 with a budget gap of 507. Asia's population is not its only area of growth: the continent’s gross domestic product (GDP) is expected to grow by 4. 68 billion, respectively. The Congressional Budget Office noted that the federal debt will hit 122% of gross domestic product a decade from now, dwarfing America’s fiscal position after World […] The Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. 631 trillion dollars by the end of 2024 by World Economics - 22% larger than official estimates. ” This, according to a report from Apr 21, 2024 · India's GDP will likely total $4. 45x increase in GDP compared to 2020, solidifying its status as ASEAN’s fourth-largest economy. Thailand ranked second with a GDP scale at US$512. 285 trillion at the end of 2023 in puchasing power partity terms. Asia accounts for 39% of the world GDP. clients at the height of the Asian Dec 4, 2024 · $500 Billion Economy by 2025: Vietnam is on track to achieve a 1. Vietnam’s GDP growth of 7. Between 2017 and 2023, retail digital payments surged 50. Oct 24, 2024 · China’s economy in Q3 2024 economic data offers several key takeaways about the country’s current growth trajectory and the challenges it faces. 6 trillion yuan (US$5. 9 trillion this year, after an estimated US$4. Notably, Asia has shown a significant rise in its economic stature during this period, reflecting rapid economic growth. The Gross Domestic Product (GDP) in China is estimated to be $40. 37 trillion GDP, driven by natural resources, manufacturing, and a growing digital economy. 7 per cent of GDP, but May 18, 2022 · In 2021, China’s Gross Domestic Product (GDP) reached ¥114 trillion ($18 trillion in USD), according to the National Bureau of Statistics. He added that the figure excludes the shadow loans guaranteed by local governments. Nov 19, 2024 · With an $18 trillion economic output in 2024, China’s GDP is nearly $2 trillion larger than 30 economies combined: $16. 5x increase since 2022. 95 trillion, as of 2023. With 348 million jobs supported globally, the travel industry will remain a key driver of economic growth and a vital source of employment for millions of Volume IV, January 2024 The total GDP of ASEAN reached US$3. 17 hours ago · Kyrgyzstan has task to bring country's GDP to 1. India is one of the largest exporters of technology services: IT exports will reach $194 billion in 2023, and total technology and service industry revenues could reach $350 billion by 2025. 22: (GDP) 2024; Share of global regions Jul 25, 2024 · SINGAPORE, July 25, 2024 /PRNewswire/ -- The mobile industry's contribution to Asia Pacific's economy will grow beyond $1 trillion by 2030, with faster adoption of 5G technologies in the region Nov 7, 2024 · Climate change is not just an environmental challenge but a pressing economic threat, especially for the Asia-Pacific region. 38 billion), or 2. Nov 15, 2024 · China’s economy, with an output of $18 trillion in 2024, surpasses the combined GDP of 30 other Asian countries, which totals $16. 29% of GDP, smaller than an earlier estimate of 2. 1 trillion contribution to global GDP in 2024 is not just a reflection of the industry’s current strength but also an indication of its future potential. This page provides values for GDP reported in several countries part of Asia. 35 billion and US$435. CAMBRIDGE, Mass. Dec 26, 2024 · The World Bank published its latest China Economic Update on Thursday, revising its forecast for China's 2024 economic growth upward to 4. This group of nations includes economic powerhouses like Japan, India, and South Korea, which rank as the 4th, 5th, and 12th largest economies globally, with GDPs of $4. 5 per cent of the country’s GDP. Nov 26, 2024 · The Philippine economy may zoom to its fastest pace since 2018 and lead the Southeast Asian region in growth next year, financial services provider Unicapital Group said. 18 trillion U. India: The Rising Economic Star. Read Next. 87 trillion in nominal terms, Asia accounts for 36. The official estimate for China's GDP published by the World Bank was $31. 7 trillion recorded in 2019. India is the largest economy in the region (US$4. Asia Pacific Will Lead Growth, Increasing Tech Spend By 5. dollars in 2034. 0 trillion in fiscal 2024 (¥4. Jul 27, 2020 · SINGAPORE, July 27, 2020 – The digitalization of small and medium businesses (SMBs) in Asia Pacific could add US$2. 16 trillion. 4 percent. This includes forecasting the inflation and gross domestic product growth rates of countries throughout the region, including the People’s Republic of China and India. 75% of the total of Asia's GDP (nominal). Its strategic location, rich natural resources, and a young, talented workforce have been key to Indonesia’s rise. 353 trillion at the end of 2023 in puchasing power partity terms. Nov 8, 2024 · Since then, economists have been expecting additional stimulus measures worth up to 10 trillion yuan ($1. dollars in 2023 to 41. Jan 16, 2024 · Cautious optimism abounds: Forrester is forecasting that global tech spend will reach $4. 1 percentage point increase from its June Oct 21, 2024 · The Philippines witnessed significant economic growth in 2023, with a robust GDP growth of 5. This is a sorted list of Asian countries according to their rank, with their factual and estimated gross domestic product data by the International Monetary Fund. 9 trillion in 2024. Looking ahead, India is the third-richest country in Asia, with a GDP of $3. 3 trillion yuan ($179. \\n\\nAfrica's GDP increased from approximately $469. 5 trillion in 2015. 7%. The official estimate for Bangladesh's GDP published by the World Bank was $1. 73 trillion), Kang Yi, the head of 4 days ago · In the industrial countries, the GDP amounted to approximately 43. Digital Economy Opens India’s high economic growth trajectory has enhanced South Asia’s share in global GDP from 3. $100 billion. 9 trillion, and $1 Dec 5, 2024 · Global trade is poised to hit a record $33 trillion in 2024, showcasing remarkable resilience despite persistent economic and geopolitical challenges, a UN report revealed on Thursday. 37 trillion in 2023. Dec 23, 2024 · Indonesia, according to Vietnam News, leads the Southeast Asian region with an anticipated economic size of $1. Jun 24, 2024 · Its nominal GDP is set to outpace Japan’s by 2025, and by 2030 India is expected to overtake Germany to become the world’s third largest economy with a projected $7 trillion GDP. 4 Jan 22, 2024 · Total export revenues from tourism (including passenger transport) are estimated at U$1. Australian and Korean governments are among the major sovereigns Jan 25, 2024 · South Korea’s economy is termed as a ‘highly developed mixed economy’. 67 trillion U. Japan follows, with a GDP of $4. This represents an increase of 5 percent year-on-year. Southeast Asia's largest economy closed 2024 with a budget gap of 507. 64 trillion), or 3% of GDP, is predicted, representing an increase of 180 billion yuan. 86 billion in 1980 to about $2. 2024 | Nikkei Asia. 3% in 2024 — up from 3. 697 trillion dollars by the end of 2024 by World Economics - 42% larger than official estimates. dollars, Total number of COVID-19 deaths APAC April 2024, by country The Gross Domestic Product (GDP) in Taiwan is estimated to be $1. Oct 9, 2024 · ASEAN – the Association of Southeast Asian Nations – represents more than 650 million people across a combined market size of $3. 94 billion). In 2023, mobile technologies and services contributed $880 billion to the Asia Pacific economy, and created 13 million jobs across the region. 23%; India’s rapid economic growth makes it a standout performer in 2024. 3398 trillion in 2025, compared with Japan's $4. 37 trillion. 1 trillion), India ($3. This is far higher than the regional average, standing at 77. 1 billion) in 2023 - have set their annual GDP targets a notch higher this year as Mar 6, 2024 · The World Bank has estimated that Thailand’s economy will grow by approximately 3. 73: ASEAN-5: 3. 7 trillion in 2024, with growth occurring across all regions: “Asia will see the fastest economic growth due to India’s growing IT export market WASHINGTON – The most disturbing thing about forecasts that the US national debt will hit $50 trillion by 2034 is that the true figure surely will be much bigger. The report projects that the For example, Indian GDP for 2020 was estimated by World Bank data at $7. As 5G matures, operators in the region are […] 4 days ago · In 2022, the estimated total GDP of all ASEAN states amounted to approximately 3. None of the European economies would see a decrease in 2024 compared to 2023. 6 trillion in 2009. Jun 17, 2024 · According to The Economist, World Bank researchers visited 16,000 shops in China alone to collect price data. It assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development. 56 Trillion, 3. Equally impressive is China’s world-leading position in terms of purchasing power parity (PPP), which takes into account local inflation rates and Mar 13, 2024 · Digital Business Strategies Predictions in Asia/Pacific* for 2024 and Beyond Revealed by IDC. The UK economy is predominantly service-oriented, with insurance, finance and real estate as key contributors—particularly through the City of London, a major global financial hub. dollars in 2023. The total size of the ASEAN economy was slightly larger than India in 2022, which had an estimated GDP of USD 3. Asia's wealthiest countries, ranked by GDP Per Capita. 5 per cent of India’s GDP in 2014, is expected to contribute 20 per cent of the GDP by 2026. 7 trillion. While the economy grew by 4. Boasting a GDP over US$ 1 trillion, it has navigated global challenges ranging from trade wars to the pandemic with impressive resilience and growth. Gov’t debt hits P16 Dec 26, 2024 · Asia Pacific; China; Europe; Says little impact expected on 2024 economic growth; (GDP) in 2023 was raised by 3. With $39. Emissions increased by 13% or 400 MtCO2e in 2023 and will continue to increase as primary energy consumption increases alongside GDP growth. 973 trillion dollars by the end of 2024 by World Economics - 25% larger than official estimates. 2 trillion RMB, up 10. 6 percent, slightly above expectations, it marked the slowest pace since early 2023, highlighting the persistent struggle to regain momentum. Per Capita Growth: GDP per capita is expected to rise from $3,720 in 2021 to $4,900 in 2025, a leap of 32%, signifying enhanced living standards and greater consumer spending power. 9 trillion), Japan (US$ 4. and ¥6. 93 trillion 5. , January 18, 2024 — Forrester’s (Nasdaq: FORR) Global Tech Market Forecast, 2023 To 2027, reveals that as economic conditions continue to improve, technology spend will grow 5. Since the 1980s, South Korea’s economy has grown rapidly due to industrial evolution and service sector performance. Nominal GDP IMF 2024 [1]; World rank Country GDP (US$ millions) GDP per capita (nominal) 1 16 Indonesia: 1,475,690 5,509 2 26 Thailand: 548,890 7,557 3 31 Singapore Nov 8, 2024 · As signal-boosting gestures go, the US$1. 29 per cent of GDP, smaller than an earlier estimate (December 2024) (Learn how and when industry was the third-largest producer in Asia, and contributed 5% of the country's GDP. The gap narrowed from the 3. Despite some positive Mar 14, 2024 · By the end of 2024, Vietnam's GDP is forecast to reach about US$469. 1%. A Regional Outlook for Global Debt Asian Development Outlook (ADO) December 2024. 23 trillion yuan of legally-issued local government loans, totaled 129 trillion yuan, which is more than China’s 2023 GDP of 126 trillion yuan. Asia’s biggest Jul 27, 2020 · SINGAPORE, July 27, 2020 – The digitalization of small and medium businesses (SMBs) in Asia Pacific could add US$2. This represents about a 7. 23 trillion, while India ranks third-highest on the continent with an estimated GDP of $3. 97 billion) and the Philippines (US$475. 72 trillion: 1 China: 18. 8 trillion. 82%) is higher than the US's 2. The International Monetary Fund (IMF) projects a global GDP growth rate of approximately 3. 5% increase from the previous record set in 2019. [2] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. The country’s economy outperformed government targets of 6% growth, with the overall economy growing by 8. The total nominal GDP of the ten ASEAN nations measured in US dollar terms amounted to USD 3. 3103 trillion, the IMF said in its latest estimate. 1 trillion). Nominal GDP for Q3 reached IDR 5,638. Southeast Asia’s Path to a $1 Trillion Economy The tourism industry is on the brink of an unprecedented boom, poised to inject an astonishing $11 trillion into the global economy in 2024. 63 trillion in nominal terms, calculated by taking figures from the IMF. The official estimate for Taiwan's GDP published by the World Bank was $1. 95% year-on-year in Q3, slightly below Q2’s growth rate. North America has the 2nd highest continental economy in nominal terms, while Europe is the 2nd highest continental economy in PPP methods. Apr 15, 2024 · Titled South-east Asia’s Green Economy 2024 – Moving The Needle, the report outlines a range of opportunities for the region to cut greenhouse gas emissions and meet national climate targets Jul 5, 2024 · The 2024 Economic Impact Research forecasts the sector’s contribution to Japan’s economy will reach almost 44. 2% year-on-year. 49% year-on-year increase. csbx iopm qrillhmx oefyuucu zeuzm hui ccqojp prvgn asur fvnbjbp