The Asian economy is the economy of more than 4 billion people (60% of the world’s population) living in 48 different countries. Six more countries are geographically located in Asia but economically and politically included in another continent.
Like all regions of the world, Asian economic prosperity varies greatly from country to country and within a country. That is because its scale is very large, from culture, environment, history to government system. The largest economies in Asia by nominal GDP are Japan, China and India. Economies range in size, from China with the world’s second largest economy by nominal GDP (2010), to Cambodia being one of the poorest.[external_link_head]
In this article, 10Hay will introduce the top 10 poorest countries in Asia in terms of GDP per capita in recent years.
1. North Korea
Many people cannot help but be surprised when North Korea leads the list of the poorest countries in Asia by GDP per capita ($583). In general, the North Korean economy is an industrial economy with industrial production as the main activity and a near-subsistence agriculture due to the sanctions, it is also a close economy. as completely under the Government and developed according to the state plan. Western media often describe the North Korean economy as a weak, stagnant and isolated economy and an economy currently struggling because of UN sanctions and embargoes as well as difficulties. influenced by the collapse of the former Soviet Union in the mid-1990s.
The Islamic Republic of Afghanistan is a country located in the middle of the Asian continent, formerly known as the Islamic State of Afghanistan. Depending on the case the country may be considered part of Central and/or South Asia as well as the Middle East.
The second poorest country in Asia is Afghanistan. The area of Afghanistan is 647,500 square kilometers, this is a very poor country, one of the poorest and least developed countries in the world. Two-thirds of the country’s population lives on less than $2 a day in the period 0909770449. In recent years, due to economic development policies, and international support, the country’s economy has gradually recovered. GDP per capita reached 633 USD.
With a GDP per capita of about 690 USD, Nepal ranks 3rd among the poorest countries in Asia. Nepal has a large number of poor households. Some households even have to rely on money from relatives living abroad. 70% of Nepal’s population lives by farming. Agriculture accounts for more than a third of the economy in this small country, despite its rugged mountainous terrain. Nepal ranks 126th out of 175 countries in the global “Corruption Perceptions Index”. This is a country that has been politically unstable for many centuries. The civil war in Nepal only ended in 2006.
Bangladesh, officially the People’s Republic of Bangladesh, is a country in South Asia.
The GDP per capita of Bangladesh is 797 USD. Bangladesh remains one of the poorest countries in Asia. Despite domestic and international efforts to improve economic and demographic prospects, Bangladesh remains an underdeveloped and overpopulated country.
Impediments to development include frequent floods and cyclones, inefficient state-owned enterprises, mismanagement of harbor facilities, rapid growth of the workforce, and excesses. job supply, inefficient use of energy resources (such as natural gas), inadequate energy supplies, slow adoption of economic reforms, political competition, and corruption. According to the July 2005 World Bank Country Brief: “One of the biggest obstacles to Bangladesh’s growth is mismanagement and weakness in public institutions.”
As a country with a fairly large territory in Southeast Asia, Myanmar is one of the poorest countries in Asia with a GDP per capita of about $868. Myanmar’s economy is one of the world’s least developed, having suffered decades of stagnation due to mismanagement and international sanctions.
In response to this situation, the government loosened import restrictions and canceled all export taxes. Despite the current currency problem, Myanmar’s economy is expected to grow by about 8.8% in 2011. Following the completion of the US$58 million Dawei deep-sea port, Myanmar is expected to be the hub. trade connecting Southeast Asia and the East Sea with the Indian Ocean, receiving goods from the Middle East, Europe and Africa through the Andaman Sea, promoting the development of the ASEAN region.
Temple of Angkor Wat
Cambodia or Cambodia is one of the poorest countries in Asia with a GDP per capita of about $926. The Kingdom of Cambodia was almost completely devastated after the Polpot Khmer Rouge era, Phnom Penh’s largest city rose from a dead city without a shadow and was restored to its present-day splendor. The effects of both foreign wars and civil wars are more serious in Vietnam, so up to now, the economy still has many shortcomings, great corruption and lax laws make the country have many things to solve. decide.
Tajikistan’s GDP per capita is about 953 USD, ranking 7th among the poorest countries in Asia. Tajikistan is the smallest and poorest country in Central Asia. Prolonged drought, raging famine, frequent food shortages, so the country’s economy is always on the “red alert” state.
Currently, Tajikistan is transitioning to a market economy, but reforms have been slow. Since 1998, the economy has changed, the growth rate reached 3.8%; inflation fell. Export: 740 million USD, import: 810 million USD; foreign debt of 1 billion USD.
Kyrgyzstan ranks 8th among the poorest countries in Asia with a GDP per capita of about $1,158. Despite the help of major Western donors, including the International Monetary Fund (IMF), the World Bank and the Asian Development Bank, the Kyrgyz Republic still faces economic difficulties. economy since independence. Initially, it was the result of the breakup of the Soviet trade bloc that led to a loss of markets, hindering the country’s transition to a free market economy. The government reduced spending, ended most subsidies, and introduced a value-added tax. In general, the government seems determined to transition to a market economy.
Pakistan’s GDP per capita is about 1,261 USD, Pakistan is also a country with slow economic growth in the region. But recently, broad-based economic reforms have led to a stronger economic outlook and accelerated growth, particularly in the manufacturing and financial services sectors.
In the previous decades, the economy has been affected by upheavals, political changes, rapid population growth due to confrontation with India. However, the IMF has agreed to government policies, supported by foreign investment, to allow the economy to enter world markets, creating the impetus for macroeconomic recovery by the end of the decade.
Yemen, officially the Republic of Yemen, is a country in the Arabian peninsula, southwest Asia. The capital is Sana’a. Yemen has about 23 million inhabitants and is nearly 530,000 square kilometers in size.
The GDP per capita of Yemen is about 1,367 USD. Yemen is the least developed country in West Asia and the least developed in the world. The arid terrain, few mineral resources (oil, gas, etc.) and corruption make Yemen one of the poorest countries in the world. Increased unemployment, weak government, famine, etc., so Yemen largely relies on the United States for support.