For faster navigation, this Iframe is preloading the Wikiwand page for Asia–Pacific.

Asia–Pacific

Member nations of the Asia-Pacific Economic Cooperation (APEC)

The Asia–Pacific (APAC)[1] is the region of the world adjoining the western Pacific Ocean. The region's precise boundaries vary depending on context, but countries and territories in Australasia, East Asia, and Southeast Asia are often included. In a wider context, Central Asia, North Asia, the Pacific Islands, South Asia, West Asia (excluding the Arabian Peninsula and the Levant), and even Pacific-adjoining countries in the Americas can be included. For example, the Asia-Pacific Economic Cooperation (APEC) includes five countries (Canada, Chile, Mexico, Peru, and the United States) in the New World. The term has become popular since the late 1980s in commerce, finance, and politics. Despite the heterogeneity of the regions' economies, most individual nations within the zone are emerging markets experiencing rapid growth. Sometimes, the notion of "Asia–Pacific excluding Japan" (APEJ) is considered useful.[2]

Related regions

List of countries and territories by subregion

Asia and the Pacific region, according to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)

In accordance with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the Asia–Pacific region includes a total of 51 countries and seven territories grouped into five subregions:[3]

In a wider context, the following countries and territories can also be included in the Asia–Pacific region:

Economic Overview

The World Bank's April 2024 update indicates that the growth rate for the Asia-Pacific region, excluding China, is expected to slightly increase to 4.6% in 2024, up from 4.4% in 2023. This underscores a diverse economic resilience against global pressures. Meanwhile, global trade growth, which was minimal at 0.2% in 2023, is projected to improve to 2.3% in 2024, crucial for the region's export-oriented economies. However, private investment remains below pre-pandemic levels due to higher debt levels and rising interest rates, signaling a cautious investment climate. The region faces significant challenges from both external factors, such as high core inflation and modest global trade recovery, and domestic issues like increased debt and political uncertainties, potentially hindering economic growth. Additionally, a hypothetical 1% decline in GDP growth in the US or China could reduce GDP growth in other developing Asia-Pacific economies by approximately 0.5% and 0.3%, respectively. The increase in trade-distorting measures, which have tripled since 2019 among G-20 countries, reflects a trend towards protective industrial policies, although other East Asia-Pacific countries, except for China and Indonesia, have been less involved in these measures.[4][5]

See also

References

  1. ^ "Digital creativity and innovation lacking in kids in APAC: report". May 10, 2019. Archived from the original on May 4, 2021. Retrieved May 4, 2021.
  2. ^ Pan, Hui, ed. (October 2004). "Vonage and Cisco to sell phone equipment". VoIP Monthly Newsletter. 2 (10). Information Gatekeepers Inc: 3. Retrieved 2011-12-15. APEJ (Asia-Pacific Excluding Japan) and EEMEA (Eastern Europe, Middle East, and Africa) will grow their combined share of this figure from 17 percent to 22 percent during the same period, as North America's share adjusts from 53 percent to 46 percent.
  3. ^ "List of countries in the Asia-Pacific region and subregions". www.unescap.org. Archived from the original on 2023-04-02. Retrieved 2023-09-29.
  4. ^ "Firm Foundations of Growth: East Asia and Pacific Economic Update, April 2024". World Bank. Retrieved 2024-04-11.
  5. ^ World Bank. (2024). Firm Foundations of Growth: East Asia and the Pacific Economic Update April 2024. Retrieved April 11, 2024, from https://doi.org/10.1596/978-1-4648-2102-8
{{bottomLinkPreText}} {{bottomLinkText}}
Asia–Pacific
Listen to this article

This browser is not supported by Wikiwand :(
Wikiwand requires a browser with modern capabilities in order to provide you with the best reading experience.
Please download and use one of the following browsers:

This article was just edited, click to reload
This article has been deleted on Wikipedia (Why?)

Back to homepage

Please click Add in the dialog above
Please click Allow in the top-left corner,
then click Install Now in the dialog
Please click Open in the download dialog,
then click Install
Please click the "Downloads" icon in the Safari toolbar, open the first download in the list,
then click Install
{{::$root.activation.text}}

Install Wikiwand

Install on Chrome Install on Firefox
Don't forget to rate us

Tell your friends about Wikiwand!

Gmail Facebook Twitter Link

Enjoying Wikiwand?

Tell your friends and spread the love:
Share on Gmail Share on Facebook Share on Twitter Share on Buffer

Our magic isn't perfect

You can help our automatic cover photo selection by reporting an unsuitable photo.

This photo is visually disturbing This photo is not a good choice

Thank you for helping!


Your input will affect cover photo selection, along with input from other users.

X

Get ready for Wikiwand 2.0 🎉! the new version arrives on September 1st! Don't want to wait?