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The Economies of West Asia

The Economies of West Asia
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Author(s): Lauren A. Alati (Argon & Co, Australia) and Harpreet Kaur (Australian Institute of Higher Education, Australia)
Copyright: 2023
Pages: 18
Source title: Research Anthology on Macroeconomics and the Achievement of Global Stability
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-6684-7460-0.ch007


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While East Asia has been the dominant economic region in Asia for several centuries, the gross regional product (GRP) of West Asia (comprising Southern, Central, and Western Asia) is projected to surpass that of East Asia by 2050 and to be 40% larger by 2100. In 2018, West Asia accounted for accounted for 17% of gross world product (GWP) compared with 31% by East Asia. It is projected that West Asia's share of GWP will rise to 31% by 2050 and 35% in 2060 before falling back to 25% in 2100. The dominant economy will be India, whose GDP is expected to surpass that of China by 2050 and to be 50% larger by 2100.

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