Oceania is a geographic region that includes Australasia, Melanesia, Micronesia and Polynesia. Oceania has a land area of 8,525,989 square kilometres and a population of over 41 million. When compared with the continents, the region of Oceania is the smallest in land area and the second smallest in population after Antarctica.
Australia and New Zealand are the only highly developed nations in the region, although the economy of Australia is by far the largest and most dominant economy in the region and one of the largest in the world. Australia's per-capita GDP is higher than that of the UK, Canada, Germany, and France in terms of purchasing power parity.
New Zealand is also one of the most globalised economies and depends greatly on international trade. New Zealand is the 53rd-largest national economy in the world measured by nominal gross domestic product (GDP) and 68th-largest in the world measured by purchasing power parity (PPP). In 2012, Australia was the 12th largest national economy by nominal GDP and the 19th-largest measured by PPP-adjusted GDP.