What you need to know about Indo-Pac countries
Following are overviews for each Indo-Pacific country including demographics, economy, and commerce. For a deeper understanding and support, contact us today.
Current on August 12, 2024
Australia
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Political System: Constitutional Monarchy with a parliamentary system.
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Population: Approximately 26 million.
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Religions: Predominantly Christian (52%), with growing secularism (30%) and smaller communities of Islam, Buddhism, and Hinduism.
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GDP: $1.7 trillion (2023).
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GDP Growth: 3.2% (2023).
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Main Exports: Iron ore, coal, natural gas, gold, and beef.
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Main Imports: Machinery, vehicles, refined petroleum, medical equipment, and electronics.
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Economic Trends: Strong in natural resources, education, and tourism; focus on renewable energy and technology.
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Business Opportunities: Mining, education services, renewable energy, fintech.
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Potential Risks: Geopolitical tensions, reliance on China for exports, climate change impacts.
Japan
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Political System: Constitutional Monarchy with a parliamentary government.
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Population: Approximately 126 million.
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Religions: Shintoism and Buddhism are predominant; smaller Christian and secular populations.
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GDP: $5 trillion (2023).
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GDP Growth: 1.3% (2023).
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Main Exports: Motor vehicles, machinery, electronics, iron and steel products, and plastics.
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Main Imports: Crude oil, natural gas, clothing, foodstuffs, and pharmaceuticals.
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Economic Trends: Aging population challenges, strong in technology and automotive industries.
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Business Opportunities: Robotics, AI, elderly care services, green tech.
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Potential Risks: Aging population, high public debt, natural disasters.
India
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Political System: Federal parliamentary democratic republic.
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Population: Approximately 1.4 billion.
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Religions: Hinduism (79.8%), Islam (14.2%), Christianity (2.3%), Sikhism, Buddhism, Jainism.
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GDP: $3.7 trillion (2023).
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GDP Growth: 6.5% (2023).
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Main Exports: Petroleum products, gems and jewelry, pharmaceuticals, machinery, and textiles.
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Main Imports: Crude oil, gold, electronics, machinery, and chemicals.
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Economic Trends: Growing middle class, expanding digital economy, manufacturing push.
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Business Opportunities: IT services, pharmaceuticals, manufacturing, renewable energy.
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Potential Risks: Infrastructure gaps, regulatory challenges, socio-political tensions.
Indonesia
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Political System: Presidential republic.
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Population: Approximately 276 million.
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Religions: Predominantly Islam (87%), Christianity, Hinduism, Buddhism.
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GDP: $1.2 trillion (2023).
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GDP Growth: 5.1% (2023).
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Main Exports: Palm oil, coal, petroleum gas, rubber, and electrical appliances.
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Main Imports: Machinery, chemicals, refined petroleum, electrical equipment, and foodstuffs.
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Economic Trends: Large domestic market, digital economy growth, natural resources.
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Business Opportunities: E-commerce, energy, infrastructure, consumer goods.
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Potential Risks: Corruption, infrastructure bottlenecks, environmental issues.
South Korea
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Political System: Presidential republic.
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Population: Approximately 52 million.
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Religions: Christianity (29%), Buddhism (23%), no religion (46%).
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GDP: $1.8 trillion (2023).
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GDP Growth: 2.5% (2023).
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Main Exports: Semiconductors, automobiles, petrochemicals, ships, and mobile phones.
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Main Imports: Crude oil, semiconductors, natural gas, coal, and machinery.
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Economic Trends: Technological innovation, strong export economy, aging population.
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Business Opportunities: Electronics, semiconductors, biotechnology, K-culture.
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Potential Risks: North Korea tensions, aging population, high household debt.
Vietnam
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Political System: Socialist republic (one-party state).
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Population: Approximately 98 million.
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Religions: Buddhism (14.9%), Catholicism (7.4%), none/folk religions.
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GDP: $411 billion (2023).
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GDP Growth: 6.5% (2023).
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Main Exports: Electronics, textiles, footwear, machinery, and seafood.
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Main Imports: Electronics, machinery, steel, plastics, and chemicals.
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Economic Trends: Rapid industrialization, strong manufacturing sector, growing middle class.
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Business Opportunities: Manufacturing, renewable energy, digital economy, agriculture.
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Potential Risks: Corruption, regulatory environment, environmental sustainability.
Philippines
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Political System: Presidential republic.
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Population: Approximately 114 million.
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Religions: Predominantly Catholic (80%), Islam (6.1%).
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GDP: $394 billion (2023).
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GDP Growth: 5.9% (2023).
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Main Exports: Electronics, machinery, coconut oil, and fruits.
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Main Imports: Electronics, mineral fuels, machinery, transport equipment, and plastics.
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Economic Trends: Strong remittance inflows, BPO sector, infrastructure development.
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Business Opportunities: BPO, infrastructure, fintech, tourism.
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Potential Risks: Political instability, natural disasters, regulatory changes.
Thailand
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Political System: Constitutional monarchy.
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Population: Approximately 70 million.
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Religions: Predominantly Buddhism (94%), Islam (5%).
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GDP: $543 billion (2023).
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GDP Growth: 3.3% (2023).
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Main Exports: Electronics, vehicles, machinery, rubber, and food products.
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Main Imports: Machinery, electronics, chemicals, fuels, and iron and steel.
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Economic Trends: Tourism, automotive manufacturing, agriculture.
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Business Opportunities: Tourism, agriculture, electronics, renewable energy.
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Potential Risks: Political instability, dependence on tourism, environmental risks.
Malaysia
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Political System: Federal constitutional monarchy.
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Population: Approximately 33 million.
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Religions: Islam (61.3%), Buddhism (19.8%), Christianity (9.2%).
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GDP: $447 billion (2023).
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GDP Growth: 4.0% (2023).
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Main Exports: Electronics, palm oil, petroleum, rubber, and machinery.
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Main Imports: Electronics, machinery, chemicals, petroleum products, and plastics.
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Economic Trends: Diversified economy, strong in electronics, palm oil, and tourism.
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Business Opportunities: Electronics, oil and gas, palm oil, healthcare.
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Potential Risks: Political instability, environmental concerns, reliance on exports.
Singapore
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Population: Approximately 5.9 million.
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Religions: Buddhism (31.1%), Christianity (18.9%), Islam (14.0%).
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GDP: $424 billion (2023).
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GDP Growth: 3.2% (2023).
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Main Exports: Electronics, machinery, pharmaceuticals, petroleum products, and chemicals.
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Main Imports: Machinery, electronics, chemicals, petroleum products, and foodstuffs.
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Economic Trends: Financial hub, high-tech industries, trade.
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Business Opportunities: Fintech, biotechnology, logistics, renewable energy.
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Potential Risks: High costs, exposure to global economic fluctuations, aging population.