We have provided a few examples below that you can copy and paste to your site: Your image export is now complete. Annual percentage growth rate of GDP at market prices based on constant local currency. Growth will remain strong at 5.4 percent in 2018, as the region continues to be the leader of global growth. On the 28th, the Asian Development Bank announced the economic outlook for the Asia-Pacific region, excluding … Find Out List of countries in Asia-Pacific by GDP (nominal), International Monetary Fund (Estimates for October 2019). Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Find Out, Online tool for visualization and analysis. World Bank national accounts data, and OECD National Accounts data files. Growth in Asia is forecast at 5.6 percent in 2018 and 2019, while inflation is projected to be subdued. Growth in developing Asia is moderating but remains robust. After a sharp slowdown to 0.9% in 2020, output in East Asia and Pacific is projected to expand 7.4% in 2021, to a level still around 3 percent below pre-pandemic projections. In Southeast Asia, economic expansion rates have remained robust although the trends by country have somewhat diverged. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. ... Report findings show that more than half of the reporting economies in the region recorded a GDP growth rate of 4% or higher in 2019. Regional growth is projected to slow sharply in 2020, to 0.5 percent—the lowest rate since 1967 —reflecting the impact of pandemic-related lockdowns, tighter financing conditions, and a deep contraction in exports. Gross domestic product (GDP) growth rates for ADB's developing member countries. Our Asia-Pacific 2021 growth forecast is revised up to 7.3% from 6.8%. Close. Growth in Asia is expected to stall at zero percent in 2020. Aggregates are based on constant 2010 U.S. dollars. Note: The newly industrialized economies are Hong Kong, China, the Republic of Korea, Singapore, and Taipei,China. Please check your download folder. References: Easterly, W., M. Kremer, L. Pritchett, and L. H. Summers (1993), “Good … Fostering Growth and Inclusion in Asia's Cities Download the theme chapter. The pandemic is expected to leave lasting economic scars on the region and dampen potential growth. c b. Tweet Like Share # Shares: 0. If you use our chart images on your site or blog, we ask that you provide attribution via a link back to this page. GDP (current US$) East Asia & Pacific. English PDF 16.69MB. But pockets of poverty and real development challenges remain. 2021/03/26. The return to economic growth should be an opportunity to address socioeconomic problems inherent in several countries, notably high informality and inequality, and make headways on a path of decarbonisation. East Asia & Pacific economic growth for 2019 was $26,987.77B, a 2.42% increase from … Only China and Vietnam are experiencing a V-shaped rebound where output has already surpassed pre-pandemic levels. English Overview 638.8KB. Prospects for the region are brighter in 2021, with growth expected to be 7.9 percent in China and 5.1 percent in the rest of the region, based on the assumption of continued recovery and normalization of activity in major economies, linked to the possible arrival of a vaccine. Significant Slowdowns and Negative GDP Growth Forecasts For the fastest-growing economies in the Asia Pacific region—China, India, and Indonesia—the 2020 growth outlook has been significantly reduced because of the COVID-19 pandemic. The Asia Pacific region grew at an annual average rate of 4.7% throughout the Global Financial Crisis, for example, and 1.3% during the Asian Financial Crisis. DataBank. If you continue to navigate this website beyond this page, cookies will be placed on your browser. ... GDP growth (annual %) GDP (constant 2010 US$) GDP (constant LCU) GDP: linked series (current LCU) GDP, PPP (constant 2017 international $) GDP (current LCU) GDP, PPP (current international $) GDP per capita growth (annual %) Download. We see China growing at 8% in 2021 (up from 7%) on stronger trade and real estate activity. Strong and broad-based global growth and trade, reinforced by the US fiscal stimulus, are expected to support Asia’s exports and investment, while accommodative financial conditions should support domestic demand. State of the region: Asia Pacific July 2020 Economy GDP growth, selected countriesKorea * Market exchange rate basis Source: Datastream Exchange rates 1155 Source: Datastream the main mover, ending the month up 3.6%, followed by World oil and jet fuel price ... Asia-Pacific Total Industry Growth in air cargo volumes CTKs, % Growth year-on-year Source: IATA Economics 2019 Mar-20 Apr-20 … Central banks are mostly on hold. This is the worst growth performance in almost 60 years, including during the Global Financial Crisis (4.7 percent) and the Asian Financial Crisis (1.3 percent). PRC. East Asia & Pacific GDP Growth Rate 1961-2021, East Asia & Pacific gdp growth rate for 2019 was, East Asia & Pacific gdp growth rate for 2018 was, East Asia & Pacific gdp growth rate for 2017 was, East Asia & Pacific gdp growth rate for 2016 was. In the other major economies, … The economic state in Asia. East Asia & Pacific gdp growth rate for 2019 was 3.78%, a 0.4% decline from 2018. The revisions reflect gloomier prospects for … Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). The two-week lockdown of the Philippine capital this month will likely slow full-year economic growth to 6% to 7%, central bank Governor Benjamin Diokno said on Wednesday. International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. As global trade slows and investment weakens, regional growth forecasts are trimmed from Asian Development Outlook 2019 by 0.3 percentage points for 2019 and by 0.1 points for 2020 compared to April forecasts. In 2019, China led the Asia Pacific region in terms of GDP with 14.34 trillion U.S. dollars, followed by Japan, India and South Korea. GDP Growth in Asia and the Pacific, Asian Development Outlook (ADO) Economics . The region managed to post a 1.2% growth in … For optimum experience we recommend to update your browser to the latest version. The downgrade in growth forecasts for some Southeast Asian economies came as the IMF upgraded its growth forecast for the broader Asia-Pacific region from 7.3% to 7.6% for this year. Sizable policy support will prevent a more severe … The Regional Economic Outlook for Asia and the Pacific estimates growth for the region to increase this year to 5.5 percent from 5.3 percent in 2016. economy is gradually moving away from being export-driven to domestic demand-driven and from the resource to the non-resource sector. … Download. DataBank Microdata Data Catalog. These gradual shifts, in response to declining mining invest-ment and the recent fall in commodity prices, are expected to help the economy sustain growth at a desirable pace. ... GDP per capita growth (annual %) GDP per capita (constant LCU) GDP per capita (constant 2010 US$) GDP per capita, PPP (current international $) GDP per capita (current LCU) GDP per … It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Find Out . SINGAPORE (ICIS)--Overall economic growth in developing East Asia and Pacific countries this year is projected to accelerate to 7.4%, led by the strong recovery in China and Vietnam, the World Bank said on Friday. 3 Asia Pacific Economic Outlook Author: Nurluqman Suratman. Developing Asia. 2017 GDP (PPP) billions of USD; Total : $50,608.4: 1 China: $19,617 2 India: $8,051 3 Japan: $5,731 4 Indonesia: $3,028 5 South Korea: $1,929 6 Saudi Arabia: $1,731 7 Iran: $1,459 8 Australia: $1,189 9 Pakistan: $1,150 10 Taiwan: $1,127 11 Philippines: $1,023 12 Malaysia: $863.0 13 United Arab Emirates: $667.2 14 Bangladesh: $628.4 15 Iraq: $596.7 16 Vietnam: $594.9 17 Data. More than a year into the COVID-19 pandemic, the developing economies of East Asia and the Pacific (EAP) are facing a markedly uneven recovery, according to the World Bank’s latest economic update for the region, released today. East Asia, Pacific 2021 GDP growth to accelerate to 7.4% - World Bank. While China's growth is driving the whole, he points out that the re-expansion of the new coronavirus infection in India and other countries is a risk factor. Stronger trade and manufacturing offset softer consumption. CSV XML EXCEL. Asia-Pacific is on track to top 50 percent of global GDP by 2040 and drive 40 percent of the world’s consumption, Asia's future represents a real shift in the world’s center of gravity. Please check your download folder. Browse by Country or Indicator. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. The region’s growth is forecast to rebound to 7.3% in 2021, moderating to 5.3% in 2022. To learn more about cookies, click here. GDP growth (annual %) - East Asia & Pacific, South Asia, Europe & Central Asia from The World Bank: Data Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). We expect inflation in most Asia-Pacific economies to remain subdued. Gross domestic product (GDP) grew 8.16% in January-March from a year earlier, preliminary data from the statistics agency showed on Friday, up from the fourth quarter's 5.09% rise. East … This site uses cookies to optimize functionality and give you the best possible experience. The growth of regional GDP excluding China is forecast to remain stable in 2018, while China's GDP growth is expected to moderate as the economy keeps … Overall, the resilient … Synthesis 6.179MB. This chart shows 2019/2020 GDP growth and 2021 expected GDP growth for selected developing countries in East and Southeast Asia. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Menu. These gains are threatened, however, by the Covid-19 pandemic, with unemployment rising and income falling as … The coronavirus pandemic has taken a severe human and economic toll on the East Asia and Pacific region (EAP). GDP per capita (current US$) - East Asia & Pacific, South Asia, Europe & Central Asia from The World Bank: Data. Your browser is not up-to-date. The Asian Development Bank has announced that the economic growth rate of the Asia-Pacific region will recover to + 7.3%. 2019 estimates. Figures and forecasts are as of ADB's Asian Development Outlook (ADO) 2021, released in April 2021. Excluding high-income newly industrialized economies, growth of 7.7% is forecast for this year and 5.6% for next year. This is a real economic shock and requires protecting people, jobs, and industries directly. Gross domestic product (GDP) growth in Emerging Asia – Southeast Asia, China and India – has held up in 2018 despite external and domestic headwinds. While China’s economic growth is gradually slowing, GDP growth in India is expected to remain robust. The breakneck pace of growth has left … ... Urbanization is fueling economic growth and opening doors to education and public health services. World Bank East Asia and Pacific Economic Update, April 2020 : East Asia and Pacific in the Time of COVID-19. If this happens, Asia & Pacific will confirm its new position as a global powerhouse. 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