Aside being the largest continent in the world, Asia is also the most populated continent, with around 4.4 billion people present on mother earth. In the world today, Asia is one of the fastest growing continent in relation to economic development and amazingly some of its countries are the richest in the world.
The wealth of a country is determined by the Gross Domestic Product (GDP). Different countries of the continent have different specialty in business and trade. The economy and GDP of the country is directly proportional to the trade carried out by the people of that country. Qatar is the richest country in Asia by per capita GDP.
Here, we present the top 10 richest Asian country in 2020
These Are Top 10 Richest Countries in Asia 2020 Per Capita
Taiwan is also known as the Republic of China. Taiwan is a democratic and a sovereign state that is surrounded by China, Japan and Philippines. The country’s economy is fueled by exports from electronics, flat panels, ships, petrochemicals, machinery; metals; textiles, plastics and chemicals. It’s GDP per capita is around $21,000 making the country rank at position 18 globally in relation to gross domestic product at purchasing power parity per capita.
The East Asian nation of Japan located in the Pacific Ocean is the ninth richestcountry in Asia 2020 with a GDP per capita of $44,000USD. The Japanese economy is highly reliant on the country’s automobile and electronics goods industry. The country is the 3rd largest automobile manufacturing nation and is also the biggest electronics goods industry in the world.
Bahrain is an island country in the Middle East that is connected to Saudi Arabia via the King Fahd Causeway. The country has been investing a lot in the banking and tourism sector. The most important export of the country is processed petroleum. Aluminum, finance, and construction materials are the other biggest products and services of Bahrain.
Israel is one of the wealthy countries in Asia and is located in the southeastern shore of the Mediterranean Sea. The country’s highly educated workforce and well-developed education system have spurred rapid economic development and a technology boom in the country. The economy of the country depends largely on the technology center Tel Aviv. Israel is self-sufficient in food production. Machinery, cut diamonds, chemicals, apparel, agricultural products, etc., are the top export products of Israel. With all these exports, the western Asian country has 33,000USD as it’s GDP.
Brunei is also known as the Nation of Brunei or the Abode of Peace. It is the sixth richest country in Asia with a GDP per capita of $66,000.The people of the country are known to possess great purchasing power. The country has evolved a lot and is among the very few countries that have 0% public debt. The exports of crude oil and natural gas are the biggest contributors to the GDP of the country.
5. Hong Kong
With a total land area of 1,106 square kilometres and a population of more than 7 million people which makes it in the list of top 5 most densely populated territories in the world, Hong Kong is located in eastern Asia. On the basis of GDP per capita, Hong Kong ranks the fifth richest Asian country with a Gross Domestic Product per capita of $36,000. The economy of Hong Kong is highly dependent on international trade and finance. Hong Kong is one of the world’s top-rated international financial centers.
Kuwait is present in the Western Asia and is located at the tip of Persian Gulf. The country is surrounded by Saudi Arabia and Iraq.
The most amazing thing is that the Kuwait dinar is the most valued and highest currency in the world today. The country’s economy is purely driven by exports of oil, petroleum products, provision of financial services and fertilizers. Kuwait’s GDP is around $39706.
Singapore is also known as the Republic of Singapore or the Lion city or the Garden city. This is the third richest Asian nation with a GDP per capita of $52,960.7 USD. The Southeast Asian nation consists of one main island and 62 smaller islets. The country is known among the most beautiful places around the world. The country is known for the hi-tech and business friendly environment.
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.
The economy of Macau is largely tourism-based. Export-oriented manufacturing of textiles and garments and financial services including banking are the other most profitable economic sectors of Macau. Macau’s economy is directly proportional to the business meetings and the tourism. The place is known for its business friendly ambience. The GDP of the country is $59451.
Qatar is also known as the state of Qatar. Qatar is located in western Asia. It is the world’s richest country and also the richest Asian country. Almost every individual of Qatar is a millionaire and is indulged in more than one business. Qatar’s economy is based on the export of petroleum and liquefied natural gas. It accounts for 70% of the country’s government revenue, over 85% of the export earnings, and over 60% of the GDP. The economy of the country is directly proportional to the natural gas and oil reserved. The GDP of the country is around $98814.