The Asia-Pacific (APAC), also known as the Indo-Pacific, is a major geopolitical and economic region of the world adjoining the western Pacific Ocean and comprising the part of the Old World located outside the EMEA region. The region's precise boundaries vary depending on context, but countries and territories in the Far East (East Asia, North Asia, and Southeast Asia) and Oceania are often included while countries in South Asia are also sometimes included. In a wider context, even countries and territories in Central Asia, West Asia and the Pacific-adjoining countries in the Americas can be included. For example, the Asia-Pacific Economic Cooperation (APEC) includes five economies (Canada, Chile, Mexico, Peru, and the United States) in the New World (more standardly referred to as the Western Hemisphere). 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 significant growth. Sometimes, the notion of "Asia-Pacific excluding Japan" (APEJ) is considered useful.[1][2]
Eastern Asia – some companies separate their Eastern Asian business from the rest of Asia, and refer to the Oriental region separately from the Western/Central Asia region
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.
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.[4][5]
^Pan, Hui, ed. (October 2004). "Vonage and Cisco to sell phone equipment". VoIP Monthly Newsletter. 2 (10). Information Gatekeepers Inc: 3. Retrieved 15 December 2011. 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.
^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
China (Mainland)
Hong Kong, China
Japan
Korea, Democratic People's Republic of (North Korea)
Korea, Republic of (South Korea)
Macao, China
Mongolia
American Samoa (United States)
Australia
Cook Islands
Fiji
French Polynesia (France)
Guam (United States)
Kiribati
Marshall Islands
Micronesia (Federated States of)
Nauru
New Caledonia (France)
New Zealand
Niue
Northern Mariana Islands (United States)
Palau
Papua New Guinea
Samoa
Solomon Islands
Tonga
Tuvalu
Vanuatu
Christmas Island (Australia)
Cocos (Keeling) Islands (Australia)
Norfolk Island (Australia)
Pitcairn Islands (United Kingdom)
Tokelau (New Zealand)
United States Minor Outlying Islands (United States)
Wallis and Futuna (France)
