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Statistical Yearbook for Asia and the Pacific 2013 • G. Economy G.1. Economic growth Population After the onset of the global financial crisis of 2008/09, a rapid recovery was seen in the Asian and Pacific region in 2010, but this recovery decelerated in 2011 because the global economy had entered a second phase of the crisis, as major developed economies of the globe pulled back on spending due to public debt concerns coming to the fore coupled with poor growth records. The region’s growth was thus curtailed as it had to contend with constrained demand for its exports from major markets in developed economies. Growth in Asia and the Pacific was further impacted by the return of high food and energy prices, as well as the effects of a host of natural disasters. been particularly high due to a recovery from the low growth in 2009 that was a result of the initial impact of the global financial crisis. Apart from the base effect, the 2011 growth slowdown also reflected the withdrawal of fiscal stimulus policies, tighter monetary policies adopted in some countries to meet the challenge of rising inflation, and in general the sluggish recovery in the developed economies of the world. The slower growth in exports, which slowed economic growth in developing economies, began to be seen during the course of 2010 and this trend continued during 2011. The growth rate in developing economies in the Asian and Pacific region in 2011 was substantially lower than that in 2010, showing a decrease from 8.4 to 6.8 per cent. The 2010 growth rate had Note: The 27 member countries of the European Union: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom of Great Britain and Northern Ireland. The slowdown in growth in 2011 particularly affected the subregions where exports play a major role. The impact of the sluggish recovery in developed economies was felt in those subregions where exports are a key driver of growth. Hence, SouthEast Asia experienced the greatest slowdown in the growth rate, with a fall from 8.0 per cent in 2010 to 4.5 per cent in 2011. The economic growth rate of developing economies in East and North-East Asia also slowed, from 9.4 per cent in 2010 to 8.0 per cent in 2011. The subregions where domestic demand is important also displayed a reduced growth performance in 2011, 215 Economic growth In 2010, the region initially experienced a strong recovery from the global financial crisis of 2008/09. Economies that are more oriented towards domestic demand survived the initial part of the crisis in 2009 with only relatively small reductions in growth. More export-oriented economies, however, bore the brunt of the growth contraction in the region. This dichotomy between countries meant that the region as a whole experienced lower but still positive growth in 2009. The year 2010 saw export-oriented economies recover strongly, while domestic-demand oriented economies continued to perform robustly, contributing to the overall recovery of growth in the region. Some of the recovery of export-oriented economies was due to strong support from intraregional trade with China, buttressed by renewed growth in exports to major markets in the developed world. Investment was also a strong driver of growth in 2010, with significant fiscal stimulus policies implemented in a number of economies in the region, as well as investment in the mining sector particularly in North and Central Asia. Economy There was an initial dramatic recovery from the crisis in 2010 due to fiscal stimulus and intraregional trade. Figure G.1-1 Annual real GDP growth rates, Asia and the Pacific, United States of America and European Union, 2006-2011 G. Economy • Statistical Yearbook for Asia and the Pacific 2013 Population as tighter monetary policies in some countries constrained spending. Thus, the South and South-West Asian subregion saw growth decelerate from an annual rate of 8.5 per cent in 2010 to 6.5 per cent in 2011. The subregions where commodities play a significant role displayed robust growth in 2011. Hence, North and Central Asia had a fairly stable growth rate, at 4.8 per cent in 2011. Pacific island developing economies also saw relatively strong growth, at 6.3 per cent in 2011 after having grown by 4.6 per cent in 2010. Figure G.1-2 GDP growth rates, Asian and Pacific subregions, average 2008/09, 2010 and 2011 was the slowdown in investment growth in many developing economies. Investment growth declined in 2011 compared with that in the previous year for all developing economies except those in East and North-East Asia. While some of this decline was due to the base effect of particularly high investment growth in 2010, factors such as the easing of fiscal stimulus in the region and tighter monetary policies also had a role to play. Apart from the Pacific island developing economies that witnessed a decline in investment growth in 2011, the greatest proportional decline in investment growth between 2010 and 2011 was seen in South-East Asia. Figure G.1-3 Gross domestic investment growth rates, Asia and the Pacific, 2007-2011 Economy Economic growth Growth in major developing economies where domestic demand is particularly important declined less in 2011 compared with growth in a number of more open economies. Some of these major economies nevertheless experienced a slowdown in 2011 stemming in significant part from the effects of tighter monetary policies. China and India grew by 9.2 per cent and 6.9 per cent, respectively, in 2011, compared with 10.3 per cent and 9.6 per cent in 2010. The global environment also affected sales from the large export sector of China and financing from abroad for Indian enterprises. Indonesia maintained its strong growth performance, with the economy expanding by 6.5 per cent in 2011 compared with 6.2 per cent in the previous year. Growth in investment and industrial production slowed in 2011. One of the drivers of the slowdown in growth in developing economies of the region in 2011 216 Data on the components of production also reflect the slowdown of economic growth in the region in 2011. The growth rate of the contribution of industry to value-added declined in 2011 compared with that in 2010 in all developing economies in the region, apart from those in South-East Asia. This partly reflected the slowdown in demand from developed world economies for industrial exports from the region, as well as domestic pressure on industrial production in some countries resulting from reduced fiscal stimulus and tighter monetary policies. However, economic growth was Statistical Yearbook for Asia and the Pacific 2013 • G. Economy Population supported somewhat in nearly all subregions by increasing growth in the contribution to valueadded of the agricultural and services sectors of the economies in the region. Figure G.1-4 Value added by sector growth, Asia and the Pacific, 2011 Despite the slowdown, Asia and the Pacific remained the most dynamic region globally. Despite the deceleration in growth in 2011, Asia and the Pacific remained by far the most dynamic region in the world in terms of economic growth. As in 2010, the region was the engine of global growth, growing nearly 20 per cent faster than the next-fastest-growing developing region of the world, that is, Latin America and the Caribbean. This brought into focus the role of Asia and the Pacific as the engine for global recovery. The region serves as a source of demand for the goods and, even more so, the commodities of other regions, which has led to growth worldwide. Box G.1-1 Multiple shocks make growth volatile and can lead to permanent economic loss Developing economies, the smaller ones in particular, are vulnerable to natural and other disasters due to structural weaknesses, among other causes. They do not often have diverse exports and they can be highly dependent on primary commodities. Developing economies can also be quite remote and have high levels of poverty. As a result, they have less capacity to absorb shocks and their economic growth is likely to be more volatile. This is evident in Samoa, which was hit by Cyclone Val in 1991 and by a tsunami in 2009, both of which caused significant losses in output (see figure below). Samoa, real GDP growth, 1983-2011 Severe shocks can also knock countries off their growth trajectories and lead to a permanent loss in output. In low-income economies, droughts, floods, storms and extreme temperature events can lead to declines in real per capita GDP of about 2 per cent.a A major disaster causes suffering and loss of life, but in a poor country it also damages the limited stock of capital goods and can lead to a long-term decline in productive capacity. As economic activity declines, fiscal revenues also shrink. The sudden and large demand for cash and foreign currency adds to the macroeconomic challenges. All this distress can easily set back the economy and, as a result, economic growth declines. If a country suffers a series of shocks there can be a cumulative effect, as illustrated by Cyclone Ami in Fiji in 2003 and the Indian Ocean tsunami in Maldives in 2004, both of which were coupled with the 2008 global financial crisis (see figure below). In addition to resulting in permanent losses in output, large shocks also affect the achievement of the Millennium Development Goals. In Pakistan, for example, the 2005 earthquake, the 2007 cyclone and the 2010 floods affected net primary school enrolment. These events damaged education facilities, reducing the quantity and quality of education. 217 Economic growth Economy Figure G.1-5 GDP growth rates, Asia and the Pacific and selected world regions, 2010 and 2011 G. Economy • Statistical Yearbook for Asia and the Pacific 2013 Population Persistent losses caused by shocks, Fiji and Maldives Maldives Fiji 1.30 Actual GDP Pre-crisis trend 3.30 3.10 2003: tropical cyclone 2.90 2.70 1997: Asian crisis 2008: global financial crisis GDP (constant 2005 $ Billion) GDP (constant 2005 $ Billion) 3.50 Actual GDP 1.15 Pre-crisis trend 1.00 2004: Indian Ocean tsunami 0.85 0.70 2008: global financial crisis 1997: Asian crisis 2.50 0.55 1999 2001 2003 2005 2007 2009 2000 2002 2004 2006 2008 2010 Source: ESCAP, based on data from United Nations Statistics Division. Note: For more details, see Luc Laeven and Fabian Valencia, “Systemic banking crises: a new database”, IMF Working Paper, No. WP/08/224 (International Monetary Fund, 2008). a Claudio Raddatz, “Are external shocks responsible for the instability of output in low-income countries?”, Journal of Development Economics, vol. 84, No. 1 (September 2007), pp. 155-187; and Stefan Hochrainer, “Assessing the macroeconomic impacts of natural disasters”, World Bank Policy Research Working Paper, No. 4968 (Washington, DC, World Bank, 2009). Further reading Economy Economic growth Economic Commission for Latin America and the Caribbean. Latin America and the Caribbean in the World Economy 2009-2010: A Crisis Generated in the Centre and a Recovery Driven by the Emerging Economies. United Nations, 2011. Available from www.eclac.org/publicaciones/xml/6/40696/ crisis_generated_in_the_centre_and_a_recovery_driven_by_the_emerging_economies.pdf. ESCAP. Economic and Social Survey of Asia and the Pacific 2011: Sustaining Dynamism and Inclusive Development – Connectivity in the Region and Productive Capacity in Least Developed Countries. Sales No. E.11.II.F.2. Available from www.unescap.org/pdd/publications/survey2011/download/Econimicand-Social-Survey-2011.pdf. Economic and Social Survey of Asia and the Pacific 2012: Pursuing Shared Prosperity in an Era of Turbulence and High Commodity Prices. Sales No. E.12.II.F.9. Available from www.unescap.org/pdd/ publications/survey2012/download/Survey_2012.pdf. Rising food prices and inflation in the Asia-Pacific region: causes, impact and policy response. MPDD Policy Brief, No. 7. March 2011. Available from www.unescap.org/pdd/publications/ me_brief/mpdd-pb-7.pdf. The European debt crisis: implications for Asia and the Pacific. MPDD Policy Brief, No. 4. August 2010. Available from www.unescap.org/pdd/publications/me_brief/mpdd-pb-4.pdf. United Nations. World Economic Situation and Prospects 2011. Sales No. E.11.II.C.2. Available from www.un.org/en/development/desa/policy/wesp/wesp_current/2011wesp.pdf. 218 Statistical Yearbook for Asia and the Pacific 2013 • G. Economy Population Purchasing power parity (PPP) PPP gives the number of units of a country’s currency required to buy the same amount of goods and services in the domestic market as a United States dollar would buy in the United States. Costs in local currency units are converted to international dollars using PPP exchange rates. An international dollar has the same purchasing power as the United States dollar has in the United States. An international dollar is therefore a hypothetical currency that is used as a means of translating and comparing costs from one country to the other using a common reference point, the United States dollar. Indicators GDP in constant prices (billion 2005 United States dollars, percentage change per annum, 2005 United States dollars per capita, percentage change per capita per annum) GDP expressed in billions of constant 2005 United States dollars; also known as real GDP. Indicator calculations: Per capita figures are based on population figures (WPP2012). Aggregate calculations: Sum of individual country values (billion 2005 United States dollars); weighted averages using total population (WPP2012) as weight (2005 United States dollars per capita, percentage change per capita per annum); average annual growth of aggregate values (percentage change per annum, percentage change per capita per annum) over several years are calculated using the geometric growth model. Missing data are not imputed. GDP (2005 PPP dollars per capita) GDP per capita is calculated as the aggregate of production (GDP) divided by the population size based on WPP2012 and expressed in constant 2005 PPP dollars per capita. Aggregate calculations: Weighted averages using total population (WPP2012) as weight. Missing data are not imputed. Gross domestic investment rate in current prices (percentage of GDP, percentage change per annum) The sum of gross fixed capital formation and changes in stocks divided by the total GDP in national currencies. Indicator calculations: Percentages of GDP are based on national accounts data in national currencies (NAMAD). Aggregate calculations: Weighted averages using GDP in current United States dollars as weight (percentage of GDP); average annual growth of aggregate values (percentage change per annum). Missing data are not imputed. Gross national income in current prices (billion United States dollars, United States dollars per capita) GDP less net taxes on production and imports, less compensation of employees and property income payable to the rest of the world, plus the corresponding items receivable from the rest of the world (that is, GDP less primary incomes payable to non-resident units, plus primary incomes receivable from non-resident units). Indicator calculations: Per capita figures are based on population figures (WPP2012). Aggregate calculations: Sum of individual country values (billion United States dollars); weighted averages using population (WPP2012) as weight (United States dollars per capita). Missing data are not imputed. Value added by sector in constant prices: agriculture, industry and services (percentage of value added, percentage change per annum) Generation of gross value added by the International Standard Industrial Classification of economic activity. Agriculture includes 219 Economic growth Gross domestic product (GDP) The total market value of all final goods and services produced within national borders in a given period of time. GDP in current prices (billion United States dollars, United States dollars per capita) GDP expressed in the prices of the current reporting period; also known as nominal GDP. Indicator calculations: Per capita figures are based on population figures (WPP2012). Aggregate calculations: Sum of individual country values (billion United States dollars); weighted averages using total population (WPP2012) as weight (United States dollars per capita). Missing data are not imputed. Economy Technical notes G. Economy • Statistical Yearbook for Asia and the Pacific 2013 Population agriculture, hunting, forestry and fishing. Industry includes construction, mining, manufacturing and utilities. Services include transport, storage and communication, wholesale, retail, restaurants, hotels, and other types of enterprises. Indicator calculations: Percentages of total value-added figures are based on national accounts data in national currencies (NAMAD); percentage change per annum is based on value added components in the national currency. Aggregate calculations: Weighted averages using GDP in constant 2005 United States dollars as weight (percentage of GDP); average annual growth of aggregate values (percentage change per annum). Sources United Nations Statistics Division, NAMAD. Individual country data are collected from Economy Economic growth 220 national statistical offices of countries through the United Nations Statistics Division National Accounts Questionnaire; data on countries and years that are missing from the questionnaire are estimated by the United Nations Statistics Division. PPP: World Development Indicators, World Bank. National accounts data are compiled by the World Bank, International Comparison Program database. The World Bank makes some adjustments to the data. Data obtained: 11 January 2013, except average annual GDP per capita (2005 United States dollars), growth rate (percentage change per capita per annum) and GDP (2005 PPP dollars per capita) obtained on 29 January 2013; gross national income in current prices obtained on 12 February 2013; and gross domestic investment rate in current prices obtained on 23 January 2013. Statistical Yearbook for Asia and the Pacific 2013 • G. Economy G.1.1 Real GDP Gross domestic product Billion 2005 US dollars % change per annum 2005 PPP dollars per capita 2005 US dollars per capita % change 2005 US dollars per capita per annum 1990 2000 2010 2011 91-01 01-11 2011 2005 2011 2005 2011 91-01 01-11 2011 4 864 532 15 99 3 851 5 2 360 6 586 1 434 12 145 4 308 7 2 678 9 791 3 880 13 216 4 639 21 3 1 019 10 166 4 237 13 227 4 604 25 4 1 056 2.9 10.3 -1.9 3.4 0.8 2.6 1.2 6.0 4.2 10.6 0.8 4.5 0.6 13.5 7.9 4.1 3.8 9.2 -0.1 5.0 -0.7 20.7 17.3 3.6 7 073 4 069 10 049 7 286 35 999 30 632 38 290 2 885 23 319 44 484 30 780 69 244 4 257 28 133 5 181 1 732 547 25 776 36 005 25 186 999 17 963 6 436 3 096 526 31 921 36 162 45 547 1 471 21 672 2.1 9.4 -3.1 1.7 0.6 0.9 0.4 5.3 3.6 9.9 0.1 4.2 0.5 11.1 6.5 3.6 3.2 8.5 -0.6 4.3 -0.7 18.2 15.5 3.0 South-East Asia Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Timor-Leste Viet Nam 444 7 2 150 1 57 3 62 50 93 0 18 726 9 4 227 2 114 7 82 99 145 0 37 1 204 10 9 378 4 178 20 131 172 226 3 74 1 258 10 9 402 4 187 21 136 180 226 3 79 4.6 2.2 6.9 3.7 6.3 6.2 8.3 3.2 6.4 4.1 2.6 7.7 5.4 1.3 7.9 5.5 7.4 5.0 11.5 4.8 6.2 4.2 20.8 7.2 4.5 2.2 7.1 6.5 8.0 5.1 5.5 3.7 4.9 0.1 10.6 5.9 4 192 47 760 1 508 3 141 1 684 12 131 5 227 46 643 2 040 4 069 2 376 14 223 3 041 43 055 6 791 972 2 096 3 630 53 504 7 972 1 494 2 943 1 658 25 914 471 1 273 469 5 554 238 1 201 27 901 2 877 1 822 623 2 082 24 765 637 1 650 661 6 512 410 1 431 34 671 3 391 2 986 875 2.9 -0.3 3.9 2.1 4.0 3.6 6.8 0.9 3.6 3.0 1.4 6.1 4.1 -0.5 6.2 4.0 5.5 3.1 10.7 3.0 3.6 3.6 18.0 6.1 3.2 0.7 5.3 5.1 6.0 3.3 4.6 2.0 2.6 -0.2 8.9 4.9 South and South-West Asia Afghanistan Bangladesh Bhutan India Iran (Islamic Rep. of) Maldives Nepal Pakistan Sri Lanka Turkey 835 6 28 0 351 106 0.4 4 58 12 270 1 302 3 44 1 598 155 0.8 7 86 20 387 2 333 10 78 1 1 238 261 1.5 10 134 33 565 2 484 11 83 1 1 323 267 1.6 11 138 36 613 4.4 -4.3 4.9 5.9 6.0 3.2 6.5 4.9 3.6 4.6 3.0 6.5 12.8 6.0 8.5 7.7 5.3 7.2 3.8 4.6 6.2 5.3 6.5 5.7 6.7 5.9 6.9 2.0 7.5 3.9 3.0 8.3 8.5 2 789 828 1 144 3 528 2 234 9 173 5 249 1 029 2 154 3 496 11 532 3 415 1 221 1 545 5 225 3 256 7 554 1 241 2 432 4 916 13 575 1 059 266 403 1 259 743 2 931 3 335 327 691 1 223 7 130 1 398 378 543 1 870 1 083 3 535 4 800 394 781 1 720 8 393 2.5 -9.2 2.8 5.0 4.1 1.6 4.2 2.4 1.1 3.7 1.4 5.0 9.4 4.6 6.0 6.2 4.0 5.3 2.4 2.8 5.2 4.0 5.1 3.2 5.5 4.0 5.5 0.7 5.4 2.7 1.2 7.4 7.1 North and Central Asia Armenia Azerbaijan Georgia Kazakhstan Kyrgyzstan Russian Federation Tajikistan Turkmenistan Uzbekistan 954 4 12 12 50 3 844 4 14 11 642 3 7 5 35 2 567 1 11 11 1 078 6 28 8 77 3 908 3 23 22 1 130 6 28 9 83 3 947 3 26 23 -2.8 -1.7 -4.2 -6.7 -1.2 -2.7 -2.9 -7.7 -1.5 0.3 5.2 7.6 13.9 6.4 7.6 4.1 4.7 7.9 8.8 7.4 4.8 4.7 0.1 7.0 7.5 5.7 4.3 7.4 14.7 8.3 9 133 4 166 4 406 3 519 8 747 1 762 11 788 1 423 4 762 2 010 11 538 5 347 8 857 4 949 11 899 2 159 14 665 1 832 8 316 3 026 4 037 1 625 1 547 1 433 3 792 488 5 308 340 2 937 553 5 077 2 092 3 079 2 015 5 140 598 6 604 435 5 184 832 -2.9 -0.3 -5.3 -5.3 -0.2 -3.8 -2.8 -9.1 -3.3 -1.4 5.0 8.0 12.5 7.2 6.6 3.3 4.9 5.5 7.6 6.2 4.4 4.7 -1.1 7.3 6.3 4.3 4.5 4.8 13.2 6.8 Pacific American Samoa Australia Cook Islands Fiji French Polynesia Guam Kiribati Marshall Islands Micronesia (F.S.) Nauru New Caledonia New Zealand Niue Northern Mariana Islands Palau Papua New Guinea Samoa Solomon Islands Tonga Tuvalu Vanuatu 536 754 1 009 1 041 3.8 2.9 3.2 24 015 25 055 26 872 28 188 2.3 1.2 1.6 451 0.1 2 4 640 0.2 3 5 865 0.2 3 6 894 0.2 3 6 3.9 2.6 2.8 1.8 3.0 1.0 1.4 1.9 3.4 3.4 2.0 1.6 32 323 34 214 4 324 4 203 37 021 9 411 3 655 21 433 39 335 9 037 3 548 22 236 2.7 2.4 1.8 0.0 1.4 -0.3 0.7 0.7 1.9 2.8 1.1 0.6 0.1 0.1 0.2 0.1 4 70 0.1 0.1 0.2 0.0 5 94 0.1 0.1 0.2 0.0 7 119 0.1 0.2 0.3 0.0 8 120 2.7 1.2 1.7 -9.8 1.4 3.5 1.6 2.8 0.1 -1.0 3.5 2.1 3.0 5.0 1.0 4.0 3.4 1.1 2 304 2 102 3 144 3 249 25 304 24 381 1 167 2 677 2 355 2 599 27 266 27 530 1 131 3 000 2 425 3 104 30 553 27 257 1.2 0.5 0.9 -10.5 -0.8 2.2 -0.1 2.8 0.5 -1.0 1.9 0.9 1.4 4.9 1.2 4.0 2.0 0.0 0.1 3 0.3 0.3 0.2 0.0 0.3 0.1 4 0.3 0.4 0.2 0.0 0.4 0.2 6 0.4 0.5 0.3 0.0 0.5 0.2 7 0.5 0.6 0.3 0.0 0.5 1.7 3.6 3.6 0.8 2.4 4.8 2.0 1.6 4.9 2.3 5.4 1.4 0.4 3.9 1.8 8.9 1.4 10.7 4.7 1.0 4.3 12 910 1 866 3 838 2 075 4 220 12 151 2 364 3 877 2 650 4 313 3 530 3 993 7 267 798 2 419 915 2 616 2 289 1 878 7 810 1 008 2 419 1 067 2 667 2 521 2 178 -0.6 1.0 2.9 -2.0 2.1 4.3 -0.2 1.0 2.4 1.6 2.9 0.8 0.0 1.3 1.1 6.5 0.6 8.3 4.2 0.8 1.9 8 806 4 372 3 261 111 46 443 533 460 110 15 65 688 1 978 4 902 620 11 148 1 797 8 717 31 588 10 009 5 043 4 966 85 69 725 698 760 74 19 80 1 082 2 856 5 991 782 13 346 2 456 12 164 39 504 15 415 5 623 9 793 192 137 1 201 1 127 1 506 170 25 147 2 047 6 148 7 073 1 330 15 421 3 343 14 203 50 864 16 079 5 619 10 460 205 146 1 255 1 196 1 604 183 27 155 2 177 6 616 7 130 1 296 15 660 3 480 14 466 52 203 2.7 1.2 4.5 -1.2 4.6 4.6 2.4 5.5 -2.0 2.2 2.7 4.8 4.1 1.8 2.6 2.2 2.9 3.5 2.8 4.6 1.0 7.3 8.3 7.2 5.4 5.7 7.3 8.4 3.1 6.3 6.8 8.2 1.6 4.7 1.4 3.5 1.6 2.6 4.3 -0.1 6.8 7.1 6.3 4.5 6.1 6.5 7.2 4.4 5.7 6.3 7.6 0.8 -2.5 1.6 4.1 1.9 2.6 5 155 30 715 4 121 2 660 1 145 4 198 5 294 2 096 3 950 6 835 31 103 5 877 3 849 1 542 5 234 5 377 2 960 5 867 1 140 2 392 5 487 29 548 2 427 24 224 8 747 41 451 8 862 1 524 3 305 8 372 31 534 2 710 25 606 10 358 41 414 10 121 3 105 35 911 1 804 1 007 367 1 658 2 346 697 1 556 2 534 371 831 2 415 31 349 1 119 24 930 4 975 41 461 7 047 3 810 36 375 2 573 1 455 512 2 081 2 810 985 2 308 2 713 494 1 144 3 704 32 863 1 228 26 152 5 779 41 389 7 487 1.4 0.8 3.1 -3.0 2.3 2.9 0.4 3.5 -2.6 -0.1 0.6 3.0 3.3 1.2 0.2 2.1 1.2 2.4 1.4 3.5 0.7 6.2 6.6 5.7 4.0 4.0 5.7 7.3 1.0 4.9 5.3 7.6 1.2 2.1 1.1 2.2 0.7 1.4 3.3 -0.3 5.7 5.5 5.0 3.2 4.5 5.1 5.9 2.3 4.4 4.9 6.9 0.4 -1.4 1.4 2.9 1.0 1.5 East and North-East Asia China DPR Korea Hong Kong, China Japan Macao, China Mongolia Republic of Korea Asia and the Pacific Developed countries Developing countries LLDC LDC ASEAN ECO SAARC Central Asia Pacific island dev. econ. Low income econ. Lower middle income econ. Upper middle income econ. High income econ. Africa Europe Latin America and Carib. North America World 221 G. Economy • Statistical Yearbook for Asia and the Pacific 2013 G.1.2 Nominal GDP, GNI and GDI Gross domestic product in current prices Billion US dollars Gross national income Gross domestic investment rate US dollars per capita % of GDP % change per annum Billion US dollars US dollars per capita 1990 2005 2011 1990 2005 2011 2000 2007 2011 91-01 01-11 2011 2011 2011 3 875 404 15 77 3 104 3 2 270 7 906 2 284 13 178 4 572 12 3 845 14 491 7 204 12 243 5 870 36 9 1 116 2 851 347 728 13 270 25 388 8 824 690 6 293 5 181 1 732 547 25 776 36 005 25 186 999 17 963 9 174 5 264 503 34 285 46 107 66 685 3 111 22 906 27 35 31 42 35 49 -2.5 0.5 0.2 3.0 4.2 2.4 27 25 11 29 31 21 23 37 39 29 23 20 13 58 29 -0.6 -2.8 -10.1 -3.1 -3.1 -1.0 -2.0 3.1 8.8 0.1 -2.4 0.6 -1.0 43.2 -0.3 14 835 7 330 12 251 6 083 33 8 1 119 9 392 5 356 503 35 314 47 774 60 158 2 844 22 968 South-East Asia Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Timor-Leste Viet Nam 367 4 2 126 1 48 5 49 39 88 0 6 932 10 6 286 3 144 12 103 125 189 2 53 2 211 16 13 847 8 288 55 225 260 370 6 124 828 13 702 187 704 204 2 612 123 793 12 875 1 561 242 94 1 658 25 914 471 1 273 469 5 554 238 1 201 27 901 2 877 1 822 623 3 659 40 244 878 3 473 1 257 10 012 1 057 2 364 50 046 5 553 5 082 1 375 25 13 18 22 27 -0.6 2.9 0.5 17 33 31 24 19 22 22 25 11 33 -2.4 -0.9 3.8 30 12 18 33 22 33 30 24 13 21 25 34 23 15 17 22 26 4 43 -4.1 -2.8 -0.5 -2.2 -5.8 1.6 7.6 -1.5 5.3 -0.1 -1.7 1.0 -11.6 0.5 -1.6 0.6 13.9 1.9 -14.8 6.2 1.4 2.1 -20.0 -16.1 2 225 16 12 823 8 281 55 296 254 357 4 119 3 681 40 439 821 3 374 1 202 9 762 1 057 3 110 48 969 5 355 3 510 1 327 South and South-West Asia Afghanistan Bangladesh Bhutan India Iran (Islamic Rep. of) Maldives Nepal Pakistan Sri Lanka Turkey 713 4 28 0 327 91 0 4 48 8 203 1 734 7 58 1 837 206 1 8 109 24 483 3 610 19 106 2 1 898 522 2 19 209 59 775 572 309 262 520 376 1 615 1 176 209 432 474 3 751 1 059 266 403 1 259 743 2 931 3 335 327 691 1 223 7 130 2 032 651 695 2 364 1 554 6 919 6 176 681 1 186 2 828 10 608 24 31 32 -1.1 1.8 2.0 48 24 33 37 38 31 54 29 23 27 21 54 36 40 58 33 13 30 24 6.3 -0.3 -1.6 -1.1 3.9 1.7 1.5 -1.8 -0.4 -3.2 3.8 -2.6 2.9 4.7 3.5 -0.8 -3.8 1.4 -15.1 -16.0 9.2 22.0 3 601 18 115 2 1 880 517 2 19 218 59 772 2 027 622 752 2 320 1 539 6 856 5 858 685 1 240 2 797 10 571 North and Central Asia Armenia Azerbaijan Georgia Kazakhstan Kyrgyzstan Russian Federation Tajikistan Turkmenistan Uzbekistan 639 2 7 8 30 3 569 3 3 15 879 5 13 6 57 2 764 2 14 14 2 216 10 63 14 186 6 1 858 7 26 46 2 979 609 902 1 544 1 833 593 3 840 535 836 715 4 037 1 625 1 547 1 433 3 792 488 5 308 340 2 937 553 9 956 3 420 6 890 3 284 11 581 1 095 12 952 835 5 041 1 618 19 19 21 27 18 20 19 9 35 20 25 38 22 32 36 27 24 25 19 25 28 20 26 22 25 25 25 -4.1 -6.7 20.9 0.7 1.3 1.6 -4.9 0.0 -2.6 -2.9 1.4 3.5 -0.4 -1.7 -1.8 3.5 1.3 9.9 5.6 -15.1 10.0 18.7 -11.8 -7.5 9.8 4.9 2 128 10 60 14 163 6 1 798 9 23 46 9 564 3 538 6 477 3 178 10 149 1 061 12 534 1 104 4 564 1 620 Pacific American Samoa Australia Cook Islands Fiji French Polynesia Guam Kiribati Marshall Islands Micronesia (F.S.) Nauru New Caledonia New Zealand Niue Northern Mariana Islands Palau Papua New Guinea Samoa Solomon Islands Tonga Tuvalu Vanuatu 381 895 1 716 14 249 26 872 46 442 23 28 27 0.3 2.8 4.4 1 659 44 904 324 0 1 3 760 0 3 5 1 515 0 4 7 18 975 3 330 1 855 16 037 37 021 9 411 3 655 21 433 66 642 13 481 4 393 26 572 23 29 28 0.9 1.5 4.8 18 15 15 17 19 17 0.1 -0.5 1.1 0.7 1.0 0.1 1 468 0 4 7 64 551 13 481 4 254 26 572 0 0 0 0 3 45 0 0 0 0 6 114 0 0 0 0 10 163 581 1 666 1 639 5 377 15 008 13 240 1 167 2 677 2 355 2 599 27 266 27 530 1 837 3 601 3 079 7 151 39 469 36 879 33 43 42 -2.1 2.1 -1.2 32 33 23 21 32 43 38 24 33 42 -0.3 -2.1 -0.9 2.9 0.2 2.1 0.6 -1.2 -1.4 -1.0 0 0 0 0 10 155 2 195 4 563 3 227 6 937 39 469 35 071 0 3 0 0 0 0 0 0 5 0 0 0 0 0 0 13 1 1 0 0 1 5 096 790 688 667 1 703 1 059 1 181 7 267 798 2 419 915 2 616 2 289 1 878 11 098 1 795 3 560 1 558 4 334 3 714 3 218 29 22 14 20 21 21 16 9 19 22 22 14 -1.0 -4.5 4.5 -3.1 21 38 -3.1 -1.6 -4.3 -1.8 3.9 0.7 4.4 -44.0 25.6 26 24 34 -1.2 6.5 0.0 0 11 1 1 0 0 1 9 792 1 638 3 375 1 373 4 424 5 539 3 041 6 750 3 473 2 501 72 44 367 405 419 70 11 63 598 1 442 3 872 507 8 010 1 123 6 341 23 042 12 346 5 445 6 900 129 97 930 908 1 045 115 22 109 1 456 4 154 6 626 1 010 14 706 2 795 13 705 45 484 24 244 7 549 16 695 400 230 2 205 1 858 2 313 358 37 237 3 475 11 294 9 238 1 905 19 152 5 792 16 737 69 735 1 816 24 331 795 733 227 829 1 393 369 1 055 1 840 287 443 945 19 803 799 13 662 2 524 22 462 4 190 3 105 35 911 1 804 1 007 367 1 658 2 346 697 1 556 2 534 371 831 2 415 31 349 1 119 24 930 4 975 41 461 7 047 5 745 48 867 4 106 2 834 805 3 656 4 367 1 420 4 526 3 830 754 1 826 6 322 42 577 1 805 31 982 9 621 47 884 10 002 26 25 28 21 30 24 33 31 33 21 38 24 -1.8 -2.8 -1.6 0.0 2.5 -2.0 2.5 5.2 3.5 2.1 2.8 -13.6 25 23 23 21 20 24 25 36 31 23 28 27 33 22 18 -0.6 -1.6 -0.1 -1.3 -0.6 2.9 1.6 3.1 1.4 4.5 0.5 3.3 -1.8 -16.1 -2.4 23 30 26 18 23 21 21 23 33 34 25 21 25 22 20 24 32 41 22 22 21 22 16 24 -0.5 -1.7 -2.5 0.3 0.9 -2.5 1.4 -1.8 3.0 1.7 -0.1 2.8 3.5 2.8 -1.9 2.5 -1.2 3.7 1.6 -1.9 1.1 2.8 1.1 3.2 24 449 7 705 16 743 371 235 2 221 1 832 2 312 331 36 246 3 504 11 303 9 396 1 809 19 173 5 624 16 928 69 826 5 793 49 881 4 118 2 630 822 3 682 4 306 1 420 4 179 3 698 783 1 841 6 327 43 305 1 713 32 016 9 343 48 432 10 015 East and North-East Asia China DPR Korea Hong Kong, China Japan Macao, China Mongolia Republic of Korea Asia and the Pacific Developed countries Developing countries LLDC LDC ASEAN ECO SAARC Central Asia Pacific island dev. econ. Low income econ. Lower middle income econ. Upper middle income econ. High income econ. Africa Europe Latin America and Carib. North America World 222 23 17 26 21 19 Statistical Yearbook for Asia and the Pacific 2013 • G. Economy G.1.3 Economic sectors Value added by sector Agriculture Industry Average annual growth rate of value added Services Agriculture Industry % of value added Services % change per annum 1990 2000 2011 1990 2000 2011 1990 2000 2011 East and North-East Asia China DPR Korea Hong Kong, China Japan Macao, China Mongolia Republic of Korea 5 27 33 0 2 5 15 45 0 2 5 10 31 0 1 59 43 19 3 36 47 69 7 27 12 35 40 60 39 31 5 35 46 55 13 31 15 25 39 57 32 14 9 38 41 67 23 38 24 35 40 77 60 76 51 51 87 67 85 44 57 South-East Asia Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Timor-Leste Viet Nam 15 1 50 18 45 15 57 19 0 10 23 39 12 1 38 16 43 8 57 14 0 9 21 25 12 1 37 15 28 12 38 13 0 12 5 22 37 62 12 39 12 38 11 38 32 37 42 23 40 64 23 46 19 45 10 34 35 37 35 37 39 72 24 47 28 41 24 32 27 38 82 40 48 37 38 43 43 47 32 43 68 53 35 39 South and South-West Asia Afghanistan Bangladesh Bhutan India Iran (Islamic Rep. of) Maldives Nepal Pakistan Sri Lanka Turkey 23 36 31 39 30 18 8 48 25 26 13 19 57 26 27 23 13 5 38 26 18 11 15 31 18 18 17 9 3 37 22 12 9 31 24 21 28 28 28 9 12 25 29 39 28 23 25 36 26 36 12 17 23 30 30 28 24 29 44 26 41 16 15 25 30 27 North and Central Asia Armenia Azerbaijan Georgia Kazakhstan Kyrgyzstan Russian Federation Tajikistan Turkmenistan Uzbekistan 19 17 30 31 33 34 18 26 32 33 8 25 17 22 9 37 7 27 23 35 5 22 6 9 5 20 4 22 12 20 48 54 33 36 33 38 50 42 30 36 39 38 45 22 40 31 39 38 42 23 4 5 3 30 3 11 19 4 4 10 16 4 3 5 13 2 91-01 01-11 2011 93 72 88 46 58 3 11 -1 -4 -2 2 12 50 -2 -3 9 18 3 -5 -3 55 5 19 2 48 35 39 38 38 46 33 52 65 55 45 39 48 28 40 38 43 47 37 56 73 50 13 38 17 6 22 19 34 4 34 7 -4 6 6 14 46 41 47 33 42 54 83 39 49 45 48 53 20 49 37 50 50 83 45 51 53 59 57 46 53 38 56 49 81 48 53 58 64 38 32 66 23 40 28 37 28 54 33 32 29 37 32 34 28 32 31 38 30 53 37 38 56 51 32 54 34 35 42 26 28 66 31 8 20 17 26 8 19 16 28 9 20 14 91-01 01-11 2011 91-01 01-11 2011 5 16 59 -1 -2 16 27 7 5 18 -1 7 -4 116 22 7 6 19 4 16 3 17 54 8 3 18 -5 1 -2 -1 43 10 8 2 5 42 12 4 0 17 22 7 8 -2 28 30 5 16 1 13 16 11 14 24 9 -2 11 12 17 18 3 13 11 12 27 15 12 1 12 37 37 22 5 34 21 40 11 35 10 6 7 2 26 17 9 13 16 20 8 40 9 6 8 46 19 18 31 12 16 15 9 3 5 0 0 36 25 19 4 24 18 32 10 35 13 7 8 11 21 17 4 13 16 17 9 31 10 8 7 13 18 19 4 8 17 24 9 8 9 7 7 26 26 24 101 6 11 10 26 11 11 13 11 72 20 11 9 10 11 20 5 12 15 14 17 22 23 12 18 11 22 5 20 24 10 12 32 102 11 18 13 33 16 16 13 16 70 26 16 13 15 15 26 14 10 16 17 17 24 29 14 11 9 25 16 13 19 19 22 28 95 9 16 15 30 13 14 14 17 80 23 27 13 14 16 23 12 12 16 19 18 27 12 14 11 16 28 12 11 22 17 16 57 46 28 68 54 52 59 51 34 47 147 163 133 250 137 95 122 159 293 203 21 10 13 3 17 7 14 25 15 25 33 30 16 29 43 28 27 20 24 33 143 151 161 238 165 90 133 162 317 189 25 11 30 14 24 13 19 23 27 37 21 -3 23 23 19 21 24 20 24 21 160 170 152 280 175 99 150 177 300 216 25 15 22 15 24 19 20 33 24 33 25 13 11 12 25 20 16 22 24 34 69 69 6 2 3 4 7 4 5 6 5 66 80 61 79 70 81 65 80 69 86 67 83 9 4 3 2 2 -1 5 0 -3 4 25 3 5 8 7 2 8 5 5 1 6 6 4 3 6 8 7 3 7 5 6 3 5 3 13 3 Pacific American Samoa Australia Cook Islands Fiji French Polynesia Guam Kiribati Marshall Islands Micronesia (F.S.) Nauru New Caledonia New Zealand Niue Northern Mariana Islands Palau Papua New Guinea Samoa Solomon Islands Tonga Tuvalu Vanuatu 28 14 25 8 2 7 22 10 25 7 2 8 26 13 27 5 2 6 14 13 7 4 25 29 12 19 9 8 26 25 9 13 6 42 28 25 58 73 68 88 73 65 66 71 66 85 72 66 66 75 67 53 71 69 4 0 3 -5 7 7 6 7 4 3 2 1 14 -9 10 -16 10 1 7 8 5 0 3 4 1 1 0 29 9 5 15 8 -13 17 0 4 8 3 3 -5 5 6 4 6 3 2 6 5 14 11 9 -8 8 4 26 30 21 46 35 26 24 4 35 17 35 22 17 25 3 31 10 29 19 22 22 15 31 29 8 14 15 10 15 41 27 13 21 13 12 21 44 27 10 22 9 11 59 39 51 47 52 60 66 81 24 57 53 57 70 62 76 25 63 61 59 68 68 -15 14 8 7 -2 4 6 4 10 2 16 7 6 5 8 12 7 20 14 3 5 6 12 12 14 10 6 4 9 12 6 12 9 0 7 10 11 2 21 21 4 5 7 6 14 17 6 9 4 6 11 8 13 8 4 7 7 21 5 16 5 1 5 Asia and the Pacific Developed countries Developing countries LLDC LDC ASEAN ECO SAARC Central Asia Pacific island dev. econ. Low income econ. Lower middle income econ. Upper middle income econ. High income econ. Africa Europe Latin America and Carib. North America World 11 2 19 32 37 15 19 30 32 13 35 26 20 3 17 4 9 2 6 7 2 13 22 33 12 14 24 18 14 34 21 12 2 14 2 5 1 4 7 1 10 13 25 12 11 18 10 13 26 17 9 2 16 2 5 1 4 38 37 39 33 19 37 34 27 35 22 33 31 43 37 36 33 37 28 33 34 31 38 35 23 40 31 26 37 25 28 31 41 31 37 28 32 24 29 35 27 39 42 27 39 33 26 44 27 30 31 43 28 36 26 33 21 29 51 61 42 35 44 48 47 44 34 65 42 43 37 60 47 62 54 70 61 59 68 50 43 45 48 55 50 45 61 44 47 47 67 49 69 62 75 67 58 71 51 46 48 49 56 56 47 61 49 52 48 70 48 72 61 78 67 16 -2 17 37 25 17 26 10 164 5 21 17 25 2 17 19 14 0 16 16 -3 17 15 14 16 20 12 23 3 16 16 20 1 12 23 10 5 16 19 -3 19 23 13 18 22 13 34 8 14 19 22 6 4 52 10 3 18 14 -2 20 47 30 22 33 13 163 3 26 22 32 3 16 16 17 4 15 17 -2 18 26 19 17 26 15 30 7 19 17 25 5 17 23 13 3 17 19 -4 19 18 11 18 25 12 19 1 8 18 24 4 13 61 18 5 19 13 2 18 38 24 19 30 15 181 4 21 19 29 6 16 14 19 6 13 15 0 17 23 17 17 23 16 29 5 17 17 23 4 13 19 10 4 15 20 -2 21 28 14 19 28 16 31 6 9 19 27 2 6 43 9 4 19 223