Do you know what are the richest countries in Asia by GDP per capita? Asia is home to a large number of countries, some of which are growing at an incredible rate while others lag behind. The main reason behind this success or failure is the economic policy adopted by the government and the extent to which the system is supported
Large parts of Asia are still marked by agri-oriented countries, of which fishing and rice cultivation are of particular importance. The characteristics of the poorer countries and countries that have fallen back due to wars or corrupt authorities such as Afghanistan, Bangladesh, Myanmar, Laos, Cambodia, and Vietnam as well as the former Soviet republics in Central Asia are, as before, agriculturally oriented production conditioned by their topography. Most states in central and northern Asia were disintegrated in 1990. The economy of these countries is mostly marked by agriculture and heavy industry. The riches of raw materials in some areas such as oil and natural gas, especially around the Caspian lake and somewhere in the Siberian tundra, are increasingly gaining in importance due to the increased world demand for energy products with them and certain undesirable consequences for the population, such as environmental pollution, corruption, and wars. In Southwest Asia, the economies of almost all countries are determined by oil production. The world’s largest known reserves of oil are found in the Arabian Peninsula and the surrounding area around the Persian Gulf, among which the kingdom of Saudi Arabia has the richest oil fields. Other oil producing countries are Iran and Iraq. Despite a small population and a small area, states like the Emirates of Kuwait, Qatar and the United Arab Emirates and the Kingdom of Bahrain for the export and sale of oil are among the richest countries in the world. So do you know what the richest countries in Asia are? According to the World Bank, Cyprus is considered a high-income economy, which is evident from its extremely high GDP per capita. Israel is deemed to be one of the highest developed countries in the Middle East, if not the highest, allowing its citizens to enjoy a high standard of living as compared to their neighbors. With an economy that is the 4th largest in Asia and a miracle story that has seen an impoverished nation become one of the most advanced in the world, there is little surprise that South Korea features on the list of 15 richest countries in Asia.
If you are interested in reading the rest of this interesting article check Insider’s Monkey list of 15 Richest Countries in Asia By GDP Per Capita and expand your knowledge more in this field.
