The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation, almost free port trade and a well-established international financial market. Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and is pegged to the US dollar. Interest rates are determined by the individual banks in Hong Kong to ensure that they are market driven. There is no officially recognised central banking system, although the Hong Kong Monetary Authority functions as a financial regulatory authority.
The economy of Mauritius is a mixed developing economy based on agriculture, exports, financial services, and tourism. Since the 1980s, the government of Mauritius has sought to diversify the country's economy beyond its dependence on just agriculture, particularly sugar production.
The economy of Mongolia has traditionally been based on agriculture and livestock. Mongolia also has extensive mineral deposits: copper, coal, molybdenum, tin, tungsten, and gold account for a large part of industrial production. Soviet assistance, at its height one-third of Gross domestic product (GDP), disappeared almost overnight in 1990–91, in the time of the collapse of the Soviet Union. Mongolia was driven into deep recession.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. In 2024, the Philippine economy is estimated to be at ₱26.55 trillion, making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.
Somalia is classified by the United Nations as a least developed country, with the majority of its population being dependent on agriculture and livestock for their livelihood. The economy of Somalia is $4.918 billion by gross domestic product as of 2020. For 1994, the CIA estimated it at purchasing power parity to be approximately $3.3 billion. In 2001, it was estimated to be $4.1 billion. By 2009, the CIA estimated that it had grown to $5.731 billion, with a projected real growth rate of 2.6%. In 2014, the International Monetary Fund estimated economic activity to have expanded by 3.7% primarily. This expansion was driven by growth in the primary sector and the secondary sector. According to a 2007 British Chambers of Commerce report, the private sector has experienced growth, particularly in the service sector. Unlike the pre-civil war period, when most services and the industrial sector were government-run, there has been substantial, albeit unmeasured, private investment in commercial activities. The investment has been largely financed by the Somali diaspora, and includes trade and marketing, money transfer services, transportation, communications, fishery equipment, airlines, telecommunications, education, health, construction and hotels.
The mixed economy of Sri Lanka was worth $84 billion by nominal gross domestic product (GDP) in 2019 and $296.959 billion by purchasing power parity (PPP). The country had experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers. This growth was driven by the growth of non-tradable sectors, which the World Bank warned to be both unsustainable and unequitable. Growth has slowed since then. In 2019 with an income per capita of 13,620 PPP Dollars or 3,852 (2019) nominal US dollars, Sri Lanka was re-classified as a lower middle income nation with the population around 22 million (2021) by the World Bank from a previous upper middle income status.
The economy of Thailand is dependent on exports, which accounted in 2021 for about 58 per cent of the country's gross domestic product (GDP). Thailand itself is a newly industrialized country, with a GDP of 17.367 trillion baht (US$495 billion) in 2022, the 9th largest economy in Asia. As of 2018, Thailand has an average inflation of 1.06% and an account surplus of 7.5% of the country's GDP. Its currency, the Thai Baht, ranked as the tenth most frequently used world payment currency in 2017.
The economy of Vietnam is a developing mixed socialist-oriented market economy. It is the 35th-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP). It is a lower-middle income country with a low cost of living. Vietnam is a member of the Asia-Pacific Economic Cooperation, the Association of Southeast Asian Nations and the World Trade Organization.
Dhaka, formerly known as Dacca, is the capital and largest city of Bangladesh. It is the ninth-largest and seventh-most densely populated city in the world. Dhaka is a megacity, and has a population of 10.2 million residents as of 2022, and a population of over 22.4 million residents in Dhaka Metropolitan Area. It is widely considered to be the most densely populated built-up urban area in the world. Dhaka is the most important cultural, economic, and scientific hub of Eastern South Asia, as well as a major Muslim-majority city. Dhaka ranks third in South Asia and 39th in the world in terms of GDP. Lying on the Ganges Delta, it is bounded by the Buriganga, Turag, Dhaleshwari and Shitalakshya rivers. Dhaka is also the largest Bengali-speaking city in the world.
The economy of Bangladesh is a major developing market economy. As the second-largest economy in South Asia, Bangladesh's economy is the 35th largest in the world in nominal terms, and 25th largest by purchasing power parity. Bangladesh is seen by various financial institutions as one of the Next Eleven. It has been transitioning from being a frontier market into an emerging market. Bangladesh is a member of the South Asian Free Trade Area and the World Trade Organization. In fiscal year 2021–2022, Bangladesh registered a GDP growth rate of 7.2% after the global pandemic. Bangladesh is one of the fastest growing economies in the world.
The Four Asian Tigers are the developed East Asian economies of Hong Kong, Singapore, South Korea, and Taiwan. Between the early 1950s and 1990s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year.
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services. In some contexts, the two terms are distinct: the "international" or "global economy" is measured separately and distinguished from national economies, while the "world economy" is simply an aggregate of the separate countries' measurements. Beyond the minimum standard concerning value in production, use and exchange, the definitions, representations, models and valuations of the world economy vary widely. It is inseparable from the geography and ecology of planet Earth.
The economy of Asia comprises about 4.7 billion people living in 50 different nations. Asia is the fastest growing economic region, as well as the largest continental economy by both GDP Nominal and PPP in the world. Moreover, Asia is the site of some of the world's longest modern economic booms.
An emerging market is a market that has some characteristics of a developed market, but does not fully meet its standards. This includes markets that may become developed markets in the future or were in the past. The term "frontier market" is used for developing countries with smaller, riskier, or more illiquid capital markets than "emerging". As of 2006, the economies of China and India are considered to be the largest emerging markets. According to The Economist, many people find the term outdated, but no new term has gained traction. Emerging market hedge fund capital reached a record new level in the first quarter of 2011 of $121 billion. Emerging market economies’ share of global PPP-adjusted GDP has risen from 27 percent in 1960 to around 53 percent by 2013. The ten largest emerging economies by nominal GDP are 5 of the 10 BRICS countries along with Indonesia, Mexico, Poland, South Korea, and Turkey.
The Dhaka Stock Exchange (DSE), located in Nikunja, Dhaka, is one of the two stock exchanges of Bangladesh, the other being the Chittagong Stock Exchange. In January 2023, DSE and Nasdaq announced their partnership with trading technology.
China has an upper middle income, developing, mixed, socialist market economy incorporating industrial policies and strategic five-year plans. It is the world's second largest economy by nominal GDP, behind the United States, and the world's largest economy since 2016 when measured by purchasing power parity (PPP).. China accounted for 19% of the global economy in 2022 in PPP terms, and around 18% in nominal terms in 2022. Historically, China was one of the world's foremost economic powers for most of the two millennia from the 1st until the 19th century. The economy consists of public sector enterprises, state-owned enterprises (SOEs) and mixed-ownership enterprises, as well as a large domestic private sector and openness to foreign businesses in their system. Post-1978 economic reforms China's average GDP growth had been over 10% annually for over three decades, and in some years even exceeded 13% annually. China is expected to remain the top contributor to global growth, at around 21% of global growth through 2029, higher than the G7 economies combined.
While beginning in the United States, the Great Recession spread to Asia rapidly and has affected much of the region.
The Economy of Chittagong is reflected in its gross state product of $(125.83 - 130.83) billion in purchasing power parity (2024) terms ranking, second in size only behind Dhaka in Bangladesh. The nominal gross domestic product of Chittagong metropolitan city is $43 billion. Chittagong metropolitan City is the second largest metropolitan city in Bangladesh. Chittagong is the export hub of Bangladesh, accounting for more than $38 billion in exports. Chittagong is the commercial hub of country. Chittagong is also home to the busiest port in the country.
The information technology sector in Bangladesh had its beginnings in nuclear research during the 1960s. Over the next few decades, computer use increased at large Bangladeshi organizations, mostly with IBM mainframe computers. However, the sector only started to get substantial attention during the 1990s. Today the sector is still in a nascent stage, though it is showing potential for advancement. Nonetheless, Bangladesh IT/ITES industry has fared comparatively well by achieving US$1.3 billion export earnings in FY 2020-21 and holding US$1.4 billion equivalent market share in the local market contributing 0.76 per cent to the GDP creating more than 1 million employment opportunities so far amid Covid-19 havoc that suddenly shattered businesses last year. Consequentially, riding on the successes of IT/ITES sector-supported export-led industries as well as pro-private sector and conducive policies pursued by Bangladesh Government, the country is now poised to become a Developing Country by 2026, as recommended by the United Nations Committee for Development Policy (UNCDP), besides, Bangladesh now seeks to transform itself into a knowledge-based and 4IR-driven cashless economy, aiming to become a developed country by 2041. The Bangladesh government has formulated a draft 'Made in Bangladesh– ICT Industry Strategy' aimed at turning Bangladesh into an ICT manufacturing hub, enhancing export of local products, attracting foreign investment and creating employment proposing to implement in three
The economy of South Asia comprises 2 billion people living in eight countries. The Indian subcontinent was historically one of the richest regions in the world, comprising 25% of world GDP as recently as 1700, but experienced significant de-industrialisation and a doubling of extreme poverty during the colonial era of the late 18th to mid-20th century. In the post-colonial era, South Asia has grown significantly, with India advancing because of economic liberalisation from the 1980s onwards, and extreme poverty now below 15% in the region. South Asia has been the fastest-growing region of the world since 2014.
