Asia is the largest and most populous continent in the world. It has the second largest nominal GDP of all continents.
Here is a brief overview of the top 10 largest economies in Asia, ranked according to their GDP (nominal).
Malaysia is a newly industrialized market economy. Its GDP has grown at an average of 6.5 percent annually between 1957 and 2005. Since the 1980s the industrial sector has led the nation’s growth.
Thailand is an emerging economy. It is a newly industrialized nation. It experienced world’s highest growth rate (averaging 12.4 percent annually) between 1985 and 1996.
UAE is the second largest economy in the Arab world. One-third of the GDP of UAE is from oil revenues. Since independence in 1971, the nation’s economy has grown by nearly 231 times.
Iran is an upper-middle income economy. Its economy is a mixture of central planning, village agriculture, state ownership of oil and other large enterprises, and small scale private trading and service ventures.
Saudi Arabia is the largest economy in the Arab world. Its command economy is petroleum-based. Approximately 75 percent of budget revenues and around 90 percent of export earnings come from oil industry.