Asian Development Outlook 2017 Update: Fast Data

ADB

Developing Asia is forecast to maintain its growth momentum in 2018, expanding by 5.8% as strong trade linkages reinforce gains stemming from domestic demand.

1. ADB forecasts gross domestic product (GDP) growth of 5.9% in 2017 and 5.8% in 2018 for developing Asia as strong trade links reinforce gains from domestic demand.
   Source: Asian Development Outlook 2017 Update
2. The region as a whole is benefiting from a rebound in global trade, which is supported by firm recovery in the major industrial economies, and strong domestic investment demand.
   Source: Asian Development Outlook 2017 Update
3. GDP growth in the People's Republic of China is now forecast 0.2 percentage points higher, at 6.7% in 2017 and 6.4% in 2018, with growth led by expansionary fiscal policy and unanticipated external demand.
   Source: Asian Development Outlook 2017 Update
4. With sluggish consumption and dampened business investment in India, GDP growth is now expected to dip from 7.1% in 2016 to 7.0% in 2017. Expansion in India is forecast to accelerate to 7.4% in 2018.
   Source: Asian Development Outlook 2017 Update
5. Southeast Asia as a whole is expected to grow by 5.0% in 2017, 0.2 percentage points higher than ADO 2017 forecasts and by 5.1% in 2018.
   Source: Asian Development Outlook 2017 Update
6. East Asia is benefitting from a rebound in global trade. GDP in the subregion will expand by 6.0% in 2017 and 5.8% in 2018, higher than forecast in ADO 2017.
   Source: Asian Development Outlook 2017 Update
7. South Asia's economic recovery is delayed until 2018. The subregional growth forecast is downgraded to 6.7% in 2017, 0.3 percentage points lower than envisaged in ADO 2017.
   Source: Asian Development Outlook 2017 Update
8. Growth forecasts for Central Asia this year and next are revised upwards, amid moderately rising oil prices, improving prospects for the Russian Federation, and increasing remittances.
   Source: Asian Development Outlook 2017 Update
9. The Pacific outlook is retained for 2017, but adjusted slightly downward for 2018 as prospects for two of the larger Pacific economies - Papua New Guinea and Timor-Leste - are unchanged.
   Source: Asian Development Outlook 2017 Update
10. More stable oil prices mean the forecast for average inflation in the region is revised downwards, from 3.0% to 2.4% in 2017 and from 3.2% to 2.9% in 2018.
    Source: Asian Development Outlook 2017 Update
11. A global trade revival means the dollar value of the region’s exports surged by 11% in the first 5 months of 2017 over the same period in the previous year, and the value of its imports rose by 17%.
    Source: Asian Development Outlook 2017 Update
12. Yet developing Asia's current account surplus is forecast to narrow from 2.3% of GDP in 2016 to 1.5% in 2017 and 1.4% in 2018. This is because the regional rebound in import values so far in 2017 has been higher than that of exports.