Asia-Pacific
Major geopolitical and economic region
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Related on Lably
Through Geopolitics, Indian Ocean and East Asia
Related regions
- East Asia
- Oceania
- Pacific Asia – specifically the Pacific-bordering regions of Asia
- Southeast Asia
- Southern Asia
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List of countries and territories by subregion
In accordance with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the Asia-Pacific region comprises a total of 51 countries and seven territories grouped into five subregions, including five transregional countries which can also be considered parts of the EMEA region.
Traditional definition
Additional countries and territories by continent
In a wider context, the Asia-Pacific region can also comprise the following 31 countries and 12 territories, including two transregional countries which can be considered parts of the EMEA region too.
- Oceania
- Ashmore and Cartier Islands (Australia)
- Christmas Island (Australia)
- Cocos (Keeling) Islands (Australia)
- Coral Sea Islands (Australia)
- Heard Island and McDonald Islands (Australia)
- Norfolk Island (Australia)
- Pitcairn Islands (United Kingdom)
- Tokelau (New Zealand)
- United States Minor Outlying Islands (United States)
- Wallis and Futuna (France)
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 eastern Asia-Pacific countries, except for China and Indonesia, have been less involved in these measures.