Asia is the world's largest and most populous continent, located in the eastern and hemispheres. The economy of Asia comprises more than 4 billion people (60% of the world population). Asia has the third largest nominal GDP of all continents, after North America and Europe, but the largest when measured in PPP. The largest economies in Asia in terms of nominal GDP are Japan, China, India, and South Korea. Economies range from Japan, as the world's second largest economy by nominal GDP, to Cambodia as one of the poorest. In terms of GDP by purchasing power parity, China has the largest economy in Asia and the second largest economy in the world, followed by Japan and India as the world's third and fourth largest economies respectively. The economies of the China and India have been growing rapidly, both with an average annual growth rate of more than 8%. Other recent very high growth nations in Asia include Malaysia, Philippines, Pakistan, Vietnam, Mongolia, Uzbekistan and mineral-rich nations such as Saudi Arabia, Kazakhstan, Iran, Brunei, Kuwait, Qatar, Turkmenistan, United Arab Emirates, Bahrain and Oman. It is forecasted that the China will surpass Japan to have the largest nominal and PPP-adjusted GDP in Asia within a decade. India is also forecast to overtake Japan in terms of Nominal GDP by 2020. In terms of GDP per capita, both nominal and PPP-adjusted, South Korea will become the second wealthiest country in Asia by 2025, overtaking Germany, the United Kingdom and France.
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|Asia||11-Dec-2013||Purchase of server equipment.