By ranking 15th, Malaysia secured a comfortable spot among the 30 richest countries in Asia for 2023.
By ranking 15th, Malaysia secured a comfortable spot among the 30 richest countries in Asia for 2023.
This achievement, including overcoming China, the dominant Asian nation, indicates that Malaysia can still compete with other countries in the global economy.
Furthermore, Malaysia overtook its neighbors, Thailand and Indonesia, which came in at positions 18 and 21, respectively.
It is believed that seasia.stats published the ranking in a paper titled “30 Richest Countries in Asia,” which was also disseminated via a trending Instagram post.
According to seasia.stats, the position is based on Gross Domestic Product (GDP), which is evaluated using purchasing power parity (PPP).
According to the ranking, Macau’s Special Regional Administration (SAR) came in third. Followed by Brunei in second and Singapore in first.
The report’s Seasia stats further state that population density and country size can also impact economic success.
The fact that small Asian nations like Singapore, Qatar, and Brunei were able to secure prominent positions among the ’30 Richest Countries in Asia’ is evidence of this.
The richest countries in the world are often sparsely populated in small countries. This is because the pandemic and the global economic slowdown hardly affected their wealth.
Therefore, small countries are often considered rich because they have a large economy compared to their small population.
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