Asia is the world's largest continent in terms of GDP, and the world's economic center of gravity is shifting to the Asia-Pacific region, in which China plays an important role. At present, China's GDP accounts for 54% of the Asian economy and 18% of the world economy. So what is the GDP per capita level of our country in Asia?
According to the latest GDP per capita data of 48 Asian countries released by the International Monetary Fund, the country with the highest GDP per capita is Qatar, at $84,400. Qatar's GDP per capita in 2021 is $68,000, an increase of $16,400 in just one year.
The main reason is the rise in international oil prices last year. As an oil-producing country, Qatar's economy has grown significantly in size, as has its GDP per capita. Similarly, Saudi Arabia, another major oil producer, has managed to surpass $30,000 per capita GDP, ranking first in Asia. Ninth.
However, countries such as the UAE and Saudi Arabia are not developed countries. Although their GDP per capita is high, Qatar's GDP per capita in particular is almost double that of the UK and France, they are still underdeveloped countries.
In addition to the requirement that per capita GDP must exceed $20,000, developed countries also have requirements for industrial development and technological level. However, the industrial structure of oil-producing countries is very simple, heavily dependent on oil and gas resources, and it is more difficult to develop technology. Speaking of, it does not meet the standards and conditions of developed countries.
Singapore's GDP per capita is $82,000, the second highest in Asia. It is one of the developed countries in Asia and the only developed country in Southeast Asia. Singapore's level of industrial development and technological progress is extraordinary.
Israel's GDP per capita is the third highest in Asia at $54,000. Israel is the only developed country in the Middle East with highly developed industrial technology, especially military industry, medicine, electronics, semiconductors and so on.
So far, there are only four developed countries in Asia. In addition to Singapore and Israel, there are Japan and South Korea. Japan's per capita GDP fell to $33,800 last year, to seventh place in Asia. Per capita GDP decreased by $6,000. This is essentially an internal recession in the Japanese economy. The increase in interest rates of the peripheral dollar led to a greater impact on the growth rate of the depreciation of the yen.
In the first half of this year, Japan's GDP was narrowly overtaken by Germany's. Exports continued to run a deficit. Imported inflation is a serious problem. The pressures of the aging process are compounded by a general low desire among young people. There are few obvious outliers in the emerging field. Economic growth is weak, which portends that Japan's GDP and per capita GDP levels will continue to decline in the future.
Korea is different from Japan. Although it is also highly integrated, with a declining birth rate and an aging population, South Korea's performance in emerging markets is very strong. However, South Korea is proud of its semiconductor and shipbuilding industries, thanks to the rapid rise of new industries in China. Competitive industries such as manufacturing and automobiles have also been greatly affected. South Korea's per capita GDP was $32,000 last year, ranking eighth in Asia after Japan. On current trends, South Korea's GDP per capita will surpass Japan's in the near future.
China's per capita GDP ranks 14th in Asia. Per capita GDP was $12,800 last year, more than Malaysia, Turkey, Kazakhstan and Thailand. Last year, China's GDP exceeded 18 trillion US dollars. GDP per capita cannot be achieved because of the size of the population. It is growing rapidly, but it is also growing steadily.
In the past 30 years, China has mainly developed low-end manufacturing, which has promoted the rapid growth of foreign trade exports. China's manufacturing strength has increased, and its position as the world's factory has been consolidated. Most of the gains, however, have been made by Western tech giants.
At present, our country is in the important period of industrial transformation and upgrading. In the future, China will fully move towards the middle and high-end manufacturing and high-tech fields. These are all highly profitable industries. As long as we make more breakthroughs in core technologies and high-end fields, China will be able to win more high-profit industries and create more high-paying jobs, which is of great significance for increasing China's per capita GDP.
Countries such as Switzerland, Sweden, and Finland have achieved high incomes because they control many highly profitable industries and capture a large share of the profits in the global division of labor. As long as we also master more of the global high-profit industry voice, we will also reap more benefits, bring more high-paying jobs to the people of our hometown, and the income level of residents will be greatly improved.