Where's the cheapest country to buy an iPad?

The iPad is currently the most popular tablet on sale and is pretty much available worldwide ... with the new iPad slowly being released in batches. Malaysia recently joined the ranks of countries with the new iPad on sale at both retail Apple retailers and the online Apple store. Currently 28 countries 'officially' sell the new iPad alongside the iPad 2 16GB variants. Curiously, Malaysia is also the cheapest country to buy the iPad (both new and second generation) ... its even cheaper than US by US$11!!

Based SOLELY on each country's online Apple store (i.e. sans offers, bundles, packages, tax etc) here's the breakdown of all the prices of available models (6 for the new iPad and 2 for the second generation, note that Japan only carries the WiFi version)

Prices were obtained at individual online Apple stores and
exchange rates were obtained on 20th April 2012 from xe.com.

Although Luxembourg, Belgium, Netherlands, Germany, Ireland, Portugal, Finland (Suomi), Spain and Italy use the Euro, their prices are slightly different because of exchange rates. The iPad is the most expensive in Hungary at nearly 4.2 times the US price. On average,the iPad costs roughly US$100 more outside of the US .... who knows why its cheaper here, and I'm not complaining ;)

Note: Any errors/omissions on data/calculations are regretted.