The top ten richest countries of Asia are enlisted here. These nations are the richest and the wealthiest in Asia with respect to Gross Domestic Product (GDP) at nominal rate. This rate is applied because it takes into account the final value of goods and services produced in a country within a financial year. The US dollar rates are applied after calculating the government official exchange rates. All the estimates are sourced from 2011 statistics of

China: China is richest country in Asia having nominal GDP of $7,298,000 million US. GDP per capita of China is $8,500. Since economic liberalization, which began in 1978, the PRC’s investment- and export-led economy has grown 70 times bigger and it is the fastest growing major economy in the world as well.
Japan: Japan is the second richest country of Asia. The nominal GDP of Japan is $5,869,000 million and GDP (Per capita) is $ 35,200. Japan is the world’s fourth largest exporter and fifth largest importer of several commodities. Japan owns 11 top Companies out of top 100 of the world and it is the largest manufacturer of electronic products as well.
Russia: Russia is the third richest country of Asia having $ 1,850,000 million GDP in its account. The per capita income is measured as $17,000 in 2011. Most of the revenue is earned from Oil, Gas, Timber and Metals and these exports account for more than 80% of total exports. Russia has sixth largest economy in the world while third largest in Asia according to 2011 economical statistics.
India: India is the fourth richest country in Asia having $1,676,000 million GDP compared on official exchange rate. GDP per capita of India is $3700 based on the growing population. India has a fastest growing economy that is progressing at a rate of 7.2% per year.
South Korea: South Korea GDP slowed to 2.2% in 2008 and declined 0.8% in 2009. Now its GDP at nominal level is $1,116,000 million whereas GDP per capita is $32,100. South Korea is a technological giant in the world. The country has the most skilled labor and technology oriented exports. It is the eight largest exporter in the world as well.
Indonesia: Indonesia is the largest economy in Southeast Asia. Indonesia’s estimated GDP for 2011 was $845,700 million while GDP per capita is $4,700. Major economic sectors are Services Sector (38.1% of GDP), Industrial Sector (47.2%) and Agricultural Sector (14.7%).
Turkey: GDP of Turkey at nominal level is $778,100 million while GDP per capita is $ 14,700. The current inflation rate in Turkey is measured 6.5% which is 2.1% greater than the figures of 2010. Turkey is the eighth wealthiest state in the world and popular for fruit export and tourism.
Saudi Arabia: Saudi Arabia is eighth richest country of Asia having $ 577,600 million GDP in its account. Saudi Arabia’s population is about 28,686,633 with $ 24,500 GDP per capita. The major product of Saudi Arabia is “Black Gold” or oil which accounts for 90% of the total revenue. This country is also making its desperate efforts to be included in the list of riches countries of the world and this phenomenon can be reflected through a real economic growth rate of 6.8% annually.
Iran: Iran is ninth richest country of Asia having $ 482,400 million GDP at nominal or official exchange rate while GDP per capita of Iran is $ 13,200. Despite of UN restrictions due to Iran’s alleged nuclear program, the state economy is progressing on stable grounds.
Taiwan: Taiwan is tenth richest country of Asia in 2011 estimates of $ 466,800 million GDP in the account. Taiwan is among the smallest countries of Asia and it is one of the industrialized and developed countries known as the “Four Asian Tigers”.
March 10, 2010 | Mohsin Ali | 29 Comments | 540 views