TheAsia-Pacific (APAC), also known as theIndo-Pacific, is a majorgeopolitical andeconomic region of the world adjoining the westernPacific Ocean and comprising the part of theOld World located outside theEMEA region. The region's precise boundaries vary depending on context, but countries and territories in theFar East (East Asia,North Asia, andSoutheast Asia) andOceania are often included while countries inCentral Asia andSouth Asia are also sometimes included. In a wider context, even countries and territories inWest Asia and thePacific-adjoining countries in theAmericas can be included. For example, theAsia-Pacific Economic Cooperation (APEC) includes five economies (Canada,Chile,Mexico,Peru, and theUnited States) in theNew World (more standardly referred to as theWestern 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 theWestern/Central Asia region
In a wider context, the Asia-Pacific region can also comprise the following 31 countries and 13 territories, including twotransregional countries which can be considered parts of theEMEA 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 belowpre-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 inGDP 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 amongG-20 countries, reflects a trend towards protective industrial policies, although other East Asia–Pacific countries, except forChina andIndonesia, 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. Retrieved15 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
Ashmore and Cartier Islands (Australia)
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)
