But as before, another metric may offer another angle. Gross National Income (GNI) per capita differs from GDP in that instead of measuring what a country sends out as product, GNI measures what a country brings in as income. Arguably the most commonly used economic indicator is GDP, which measures the total value of all the goods and services produced by a nation during a given period of time (typically a month or year). Apr 27th 2012 By The Economist online South Korea may soon be richer than Japan FOR years, Japan was Asia's richest and most powerful economy. Japan's great strength is its highly developed technology sector, which helps the "Land of the Rising Sun" rank as one of the most innovative countries in the entire world. In this publication, a set of indicators has been chosen to portray ASEAN economic and social progress across multiple dimensions. World Economics has combined 10 countries to represent the ASEAN States. China is the largest economy in Asia, comprising nearly half of the continent's gross domestic product. Overall these countries account for 7% of Global GDP and 9% of global GDP growth in the past 10 years (2012-2022). The rank of Lebanon will be down by two positions. It offers a series of indicators outlining ASEAN economic and social progress across multiple dimensions. With $2 tn, The average rank score is determined by taking a harmonic mean of the ranks in each criterion. For example, China and India are the two most populous countries in the world, so it makes sense that they rank high in terms of total GDPa country with more workers is likely to create more product overall. Here's what that means Dec 20, 2019 By 2030, Asia is expected to contribute roughly 60% of global growth Image: REUTERS/Issei Kato Praneeth Yendamuri , Bain & Company Asian Development Outlook (ADO) 2022: Economic Forecasts Show publisher information Rank W.Rank Institution . Here are the 10 richest countries in Asia: Enter your email below, and you'll receive this table's data in your inbox momentarily. List 2023. India ranks as the second-richest country in Asia, with an economy heavily centered on service industries (55.6% of GDP), industrial business (26.3%), and agriculture (18.1% of GDP). The global economy In the simplest terms, the. The Asian economy, comprising 48 economies, in 2021 is projected around US$36.8 trillion in nominal terms, calculated by taking figures from the IMF. You can help making this more comprehensive by encouraging more publications to be listed (instructions) and more authors to register (form). Here are some critical facts. 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