Economy and Output. Snapshots. Key trends. 220 Key Indicators for Asia and the Pacific 2015

Transcription

1 220 Key Indicators for Asia and the Pacific 2015 Economy and Output Snapshots The Asia and Pacific region generated more than 40% of global gross domestic product (GDP) in purchasing power parity terms in The People s Republic of China and India accounted for nearly 70% of the region s output. GDP growth accelerated in slightly more than half of the region s economies in The role of services has expanded in about 80% of the Asia and Pacific region since 2000 and now generates at least half of GDP in nearly two-thirds of the region s reporting economies. Between 2000 and 2014, the share of agriculture in GDP fell in all but seven of the region s 47 economies. During the same period, the share of industry in GDP rose in slightly less than half of the region s economies. Between 2000 and 2014, or the latest year for which data are available, investment spending as a share of GDP increased in two-thirds of the region s reporting economies, household consumption spending as a share of GDP declined in two-thirds of the region s reporting economies, government consumption expenditure relative to GDP increased in slightly more than half of the region s reporting economies, and gross domestic saving as a share of GDP increased in more than twothirds of the region s reporting economies. Key trends The share of global gross domestic product (GDP) generated by the Asia and Pacific region rose to 40.7% in 2014, increasing nearly 11 percentage points between 2000 and Figure 2.1 divides global GDP into seven regions. Each economy s GDP has been converted into a common currency using purchasing power parity (PPP) to eliminate differences in price levels. The Asia and Pacific region includes both developed and developing members. Europe s share of global GDP fell 4.5 percentage points to 23.4% between 2000 and 2014, while North America s share fell 6 percentage points to 20.2%. The People s Republic of China (PRC) and India accounted for almost 70% of regional GDP in Figure 2.2 shows that the PRC contributed 48.9% of regional GDP and India 20.2%. India surpassed Japan in 2008 to become the region s second biggest economy in PPP-adjusted terms. There is wide variation in PPP-adjusted per capita GDP within the region. Figure 2.3 shows per capita GDP in PPP terms in index form for 39 regional economies for 2000 and The average for all reporting economies in the region is equated to 100, which is represented by the red line. Economies with bars to the left of the red line had per capita GDP below that year s regional average, and those with bars to the right of the red line had per capita GDP above that year s regional average. The PPP-adjusted per capita GDP in Singapore, which topped the list in 2014, was 47 times greater than that of Solomon Islands, at the bottom, and 7.5 times greater than the regional average. In addition to Singapore, the per capita GDP of seven other economies Australia; Brunei Darussalam; Hong Kong, China; Japan; the Republic of Korea; New Zealand; and Taipei,China was at least three

2 Economy and Output Figure 2.1: Percentage Distribution of GDP at PPP: The Asia and Pacific Region in the World Economy, 2000 and 2014 Regional Trends and Tables Asia and the Pacific Europe North America West Asia South America Africa Rest of the World GDP = gross domestic product, PPP = puchasing power parity. Sources: Derived from Table 2.1 and World Development Indicators Online (World Bank 2015). 60 Figure 2.2: Percentage Distribution of GDP at PPP The Asia and Pacific region, 2000 and PRC India Japan Indonesia Korea, Rep. of Thailand Taipei,China Australia Pakistan Malaysia Others GDP = gross domestic product, PPP = puchasing power parity, PRC = People s Republic of China. Sources: Derived from Table 2.1 and World Bank World Development Indicators. times greater than the 2014 regional average. At the same time, 17 economies had a per capita GDP in 2014, or the latest year for which data are available, that was less than half of the regional average. Among the most populous developing members, only the PRC s per capita GDP in 2014 was higher than the regional average. Meanwhile, in Bangladesh, India, Indonesia, and Pakistan, per capita GDP was below the regional average. The PRC first exceeded the regional average in 2009, while Indonesia fell just below the regional average and has remained there since In 2014, GDP growth accelerated in slightly more than half of the region s economies. Unweighted average growth rate of developing Asia s GDP

3 222 Key Indicators for Asia and the Pacific 2015 Figure 2.3: Indexes of per Capita GDP, 2000 and 2014 (regional average = 100) Singapore Brunei Darussalam Hong Kong, China Taipei,China Australia Japan New Zealand Korea, Rep. of Malaysia Kazakhstan Azerbaijan Palau Thailand Turkmenistan PRC Mongolia Average for RMs Indonesia Sri Lanka Average for DMEs Maldives Fiji Bhutan Armenia Georgia Philippines Samoa India Viet Nam Uzbekistan Tonga Lao PDR Pakistan Tuvalu Kyrgyz Republic Cambodia Bangladesh Tajikistan Nepal Kiribati Solomon Islands ,000 1,100 1,200 1,300 1,400 1, DME = developed member economy, GDP = gross domestic product, Lao PDR = Lao People s Democratic Republic, PRC = People s Republic of China, RM = regional member. ADB estimates from Table 2.2. expanded to 4.8% in 2014, compared with 4.0% the previous year. Among the region s three developed economies, growth rose slightly in New Zealand between 2013 and 2014 (from 2.5% to 3.1%), was steady in Australia (2.5% in both years), and dipped into negative territory in Japan (from 1.6% to 0.1%) (Figure 2.4). Overall, GDP growth accelerated in just over half of the region s economies in Meanwhile, the unweighted average growth rate of the region as a whole (including the three developed economies) rose to 4.5% in 2014 from 3.9% in The PRC s GDP growth slowed to 7.4% in 2014 from 7.7% in 2013 as investment, particularly in real estate, slowed. 1 The deceleration from double-digit growth rates in previous years has been the result of government efforts to increase private consumption, dampen credit growth, pare back industrial overcapacity, and rein in local government debt. India s economic growth accelerated to 7.3% in 2014 from 6.9% in the previous year, led by services on the supply side and private consumption on the demand side. 2 Elsewhere in the region, Thailand s economic growth continued to slow falling to 0.9% in 2014 from 2.8% in 2013 (and from 7.1% in 2012) amid declining tourism receipts and investment. In Papua New Guinea, growth accelerated from 4.9% to 8.4%, driven by the commencement of liquefied natural petroleum exports. The only economy to achieve double-digit growth in 2014 was Turkmenistan at 10.3%, which was up slightly from 10.2% in 2013, driven by public investment and gas exports. 3 Trade plays a pivotal role in many developing economies in the Asia and Pacific region. In 20 out of 32 developing economies reporting, the total value of exports of goods and services in 2014, or the latest year for which data are available, exceeded 30% of GDP (Figure 2.5). In 24 out of the same 1 Asian Development Bank Asian Development Outlook 2015: Financing Asia s Future Growth. Manila. 2 Ibid. 3 Op. cit.

4 Economy and Output 223 Figure 2.4: Real GDP Growth, 2013 and 2014 Turkmenistan Uzbekistan Tajikistan Georgia Kazakhstan Pakistan Kyrgyz Republic Armenia Azerbaijan Afghanistan Figure 2.5: Exports and Imports of Goods and Services, Latest Years (% of GDP) Kyrgyz Republic Tajikistan Georgia Armenia Turkmenistan Kazakhstan Azerbaijan Regional Trends and Tables Mongolia PRC Taipei,China Korea, Rep. of Hong Kong, China Bhutan Sri Lanka India Maldives Bangladesh Nepal Myanmar Lao PDR Cambodia Philippines Malaysia Viet Nam Indonesia Singapore Thailand Brunei Darussalam Papua New Guinea Palau Vanuatu Tonga Timor-Leste Solomon Islands Samoa FSM Marshall Islands Tuvalu Fiji Cook Islands Uzbekistan Pakistan Hong Kong, China Mongolia Taipei,China Korea, Rep. of PRC Bhutan Nepal Sri Lanka India Bangladesh Singapore Viet Nam Malaysia Thailand Cambodia Brunei Darussalam Philippines Indonesia Tonga Papua New Guinea Fiji Vanuatu Timor-Leste New Zealand Australia Japan FSM = Federated States of Micronesia, GDP = gross domestic product, Lao PDR = Lao People's Democratic Republic, PRC = People s Republic of China. Table 2.9. New Zealand Australia Japan Exports Imports GDP = gross domestic product, PRC = People s Republic of China. Table 2.7.

5 224 Key Indicators for Asia and the Pacific economies, total imports exceeded 30% of GDP. Hong Kong, China and Singapore were the only two economies in the region in which the values of imports and exports exceeded 100% of GDP. In the region s developed economies Australia, Japan, and New Zealand the ratios of exports to GDP and imports to GDP were less than 30% in all three cases. According to the United Nations Economic and Social Commission for Asia and the Pacific, the region s trade dependence as measured by the ratio of merchandise exports to GDP nearly tripled from 11% in 1990 to 31% in The services sector comprised at least half of GDP in nearly two-thirds of the region s reporting economies in Services have gained in importance in most of Asia and the Pacific, with 37 out of 47 economies seeing an increase in services share of GDP between 2000 and 2014, or the latest year for which data are available (Figure 2.6a). Rising incomes and migration to cities have generated demand for services such as communication, transportation, retailing, and health. Structural changes in economies and declining labor intensity in agriculture and manufacturing have channeled more workers into services, which are often labor-intensive. In the latest year for which data are available, services generated over 60% of GDP in the Maldives and in 10 out of 13 Pacific economies, many of which rely heavily on tourism. In Hong Kong, China where the economy is dominated by trade, finance, and tourism services comprised a 92.9% share of GDP in In the region s developed member economies Australia, Japan, and New Zealand services comprised about 70% of GDP in 2014, or the latest year for which data are available. The share of services in the PRC s GDP increased from 39.0% in 2000 to 47.7% in In India, services share of GDP rose from 50.5% to 4 United Nations Economic and Social Commission for Asia and the Pacific Statistical Yearbook for Asia and the Pacific Bangkok. Figure 2.6a: Services Value Added as Percentage of GDP, 2000 and Latest Year Georgia Kazakhstan Kyrgyz Republic Pakistan Afghanistan Armenia Uzbekistan Tajikistan Turkmenistan Azerbaijan Hong Kong, China Taipei,China Korea, Rep. of Mongolia PRC Maldives Sri Lanka Bangladesh India Nepal Bhutan Singapore Philippines Thailand Malaysia Viet Nam Indonesia Cambodia Lao PDR Myanmar Brunei Darussalam Palau Cook Islands Tuvalu Marshall Islands FSM Fiji Samoa Vanuatu Kiribati Tonga Nauru Papua New Guinea Timor-Leste Japan Australia New Zealand Latest Year FSM = Federated States of Micronesia, GDP = gross domestic product, Lao PDR = Lao People's Democratic Republic, PRC = People s Republic of China. Table 2.4.

6 Economy and Output % over the same period. Economies in which services make the smallest contribution to GDP include most of (notably Brunei Darussalam and Myanmar); several economies in (notably Azerbaijan and Turkmenistan); and Bhutan, Nauru, Papua New Guinea, and Timor-Leste. Between 2000 and 2014, or the latest year for which data are available, the share of agriculture in GDP fell in all but seven of the region s 47 economies. At the same time that the importance of services has increased in most economies, the share of GDP generated by agriculture has generally declined. Agriculture comprises the largest share of GDP in Nepal (32.5%), Cambodia (30.5%), and Myanmar (27.9%) (Figure 2.6b). Meanwhile, Myanmar experienced the most significant decline in agriculture s share of GDP between 2000 and 2014, which dropped 29.3 percentage points. The share of industry in GDP rose in slightly less than half (22 out of 47) of the region s reporting economies between 2000 and 2014, or the latest year for which data are available. Timor-Leste had the highest ratio of industry value added to GDP at 76.3% in 2013, up from 29.3% in 2000 (Figure 2.6c). Other notable increases during the period under review occurred in Nauru (from 1.8% to 66.2%), Myanmar (from 9.7% to 34.4%), and the Lao People s Democratic Republic (from 19.1% to 34.7%). The steepest declines occurred in Tajikistan (from 38.4% to 25.5%), Palau (from 17.4% to 7.4%), and Singapore (from 34.8% to 24.9%). Two-thirds of the region s reporting economies (24 out of 36) have increased investment spending as a share of GDP since Figure 2.7a shows that gross domestic capital formation as a percentage of GDP rose in two-thirds (24 out of 36) of reporting economies between 2000 and 2014, or the latest year for which data are available. Capital formation consists of fixed capital investment in construction, durable equipment, breeding stocks and orchards, Figure 2.6b: Agriculture Value Added as Percentage of GDP, 2000 and Latest Year Tajikistan Afghanistan Pakistan Armenia Uzbekistan Kyrgyz Republic Turkmenistan Georgia Azerbaijan Kazakhstan Mongolia PRC Korea, Rep. of Taipei,China Hong Kong, China Nepal Bhutan India Bangladesh Sri Lanka Maldives Cambodia Myanmar Lao PDR Viet Nam Indonesia Philippines Thailand Malaysia Brunei Darussalam Singapore FSM Vanuatu Kiribati Papua New Guinea Tuvalu Marshall Islands Tonga Fiji Samoa Cook Islands Timor-Leste Palau Nauru New Zealand Australia Japan Latest Year FSM = Federated States of Micronesia, GDP = gross domestic product, Lao PDR = Lao People's Democratic Republic, PRC = People s Republic of China. Table 2.4. Regional Trends and Tables

7 226 Key Indicators for Asia and the Pacific 2015 Figure 2.6c: Industry Value Added as Percentage of GDP, 2000 and Latest Year Azerbaijan Turkmenistan Kazakhstan Uzbekistan Armenia Kyrgyz Republic Tajikistan Georgia Afghanistan Pakistan PRC Korea, Rep. of Mongolia Taipei,China Hong Kong, China Bhutan Sri Lanka India Bangladesh Maldives Nepal Brunei Darussalam Indonesia Malaysia Viet Nam Thailand Lao PDR Myanmar Philippines Cambodia Singapore Timor-Leste Nauru Papua New Guinea Samoa Fiji Tonga Marshall Islands Kiribati Vanuatu Palau Cook Islands FSM Tuvalu Japan Australia New Zealand Latest Year FSM = Federated States of Micronesia, GDP = gross domestic product, Lao PDR = Lao People's Democratic Republic, PRC = People s Republic of China. Table 2.4. Figure 2.7a: Gross Domestic Capital Formation as Percentage of GDP, 2000 and Latest Year Turkmenistan Kyrgyz Republic Georgia Uzbekistan Azerbaijan Tajikistan Kazakhstan Armenia Pakistan PRC Mongolia Korea, Rep. of Hong Kong, China Taipei,China Bhutan Nepal India Sri Lanka Bangladesh Myanmar Indonesia Singapore Brunei Darussalam Viet Nam Malaysia Thailand Cambodia Philippines Vanuatu Tonga Fiji Papua New Guinea Timor-Leste Australia New Zealand Japan Latest Year GDP = gross domestic product, PRC = People s Republic of China. Table 2.6.

8 Economy and Output 227 and intellectual property products; and changes in inventories. 5 Myanmar experienced the largest gain during the period under review, with capital formation as a share of GDP rising 23 percentage points to 35.3%. The next largest increase was in Turkmenistan, where capital formation rose nearly 16 percentage points to 50.7%. The economies with the highest levels of capital formation relative to GDP in 2014, or the latest year for which data are available, were Turkmenistan (50.7%), Bhutan (47.3%), and the PRC (46.4%). Except for Bhutan and Pakistan, all reporting economies in and, respectively, posted an increase in their share of gross domestic capital formation to GDP. Timor-Leste had the lowest share of gross domestic capital formation to GDP at 10.3% in 2013; it also posted the biggest decline in capital formation during the period under review, falling 21 percentage points. Figure 2.7b: Household Consumption Expenditure as Percentage of GDP, 2000 and Latest Year Tajikistan Kyrgyz Republic Armenia Pakistan Georgia Uzbekistan Kazakhstan Azerbaijan Turkmenistan Hong Kong, China Mongolia Taipei,China Korea, Rep. of PRC Nepal Bangladesh Sri Lanka India Bhutan Regional Trends and Tables Household consumption spending as a percentage of GDP has declined in two-thirds of the region s reporting economies (24 out of 36) since Among the most populous developing economies, private consumption as a share of GDP fell between 2000 and 2014, or the latest year for which data are available, in the PRC from 46.2% to 38.0%, in India from 64.6% to 60.1%, and in Indonesia from 61.7% to 57.2% (Figure 2.7b). Tonga posted the highest level of household consumption as a share of GDP (101.9%), while Turkmenistan posted the lowest (9.3%). The Kyrgyz Republic posted the largest increase in private consumption as a share of GDP between 2000 and 2014 (34 percentage points), while Timor-Leste registered the largest decline (53 percentage points). Cambodia Philippines Myanmar Viet Nam Indonesia Malaysia Thailand Singapore Brunei Darussalam Tonga Fiji Vanuatu Papua New Guinea Timor-Leste Japan New Zealand Australia Latest Year 5 United Nations Statistics Division. System of. GDP = gross domestic product, PRC = People s Republic of China. Table 2.5.

9 228 Key Indicators for Asia and the Pacific 2015 Government consumption expenditure relative to GDP has increased in slightly more than half of the region s reporting economies (18 out of 35) since In 2014, or the latest year for which data are available, government consumption expenditure as a share of GDP in all three developed economies Japan (20.7%), New Zealand (18.9%), and Australia (17.7%) exceeded that in every developing economy except Tonga (19.4%) and Brunei Darussalam (21.6%) (Figure 2.7c). Meanwhile, the lowest ratios of government consumption expenditure as a share of GDP were in Bangladesh (5.3%), Cambodia (5.5%), and Viet Nam (6.3%). Gross domestic saving as a share of GDP has increased in more than two-thirds of the region s reporting economies (25 out of 37) since In 2014, or the most recent year for which data are available, Turkmenistan reported the highest ratio of domestic saving to GDP at 81.5%, while Tonga reported the lowest at 21.3% (Figure 2.7d). Timor-Leste reported the biggest turnaround with an increase of 147 percentage points from 81.7% to 64.8%. On the other hand, the Kyrgyz Republic posted the biggest drop with a decline of 31 percentage points from 14.3% to 16.7%. Among economies in and, only Malaysia and Nepal, respectively, posted a decline in gross domestic saving as a percentage of GDP. Figure 2.7c: Government Consumption Expenditure as Percentage of GDP, 2000 and Latest Year Kyrgyz Republic Georgia Uzbekistan Armenia Tajikistan Kazakhstan Azerbaijan Pakistan Turkmenistan Korea, Rep. of Taipei,China PRC Mongolia Hong Kong, China Bhutan Sri Lanka India Nepal Bangladesh Brunei Darussalam Thailand Malaysia Philippines Singapore Indonesia Viet Nam Cambodia Tonga Fiji Papua New Guinea Vanuatu Timor-Leste Japan New Zealand Australia Latest Year GDP = gross domestic product, PRC = People s Republic of China. Table 2.5.

10 Economy and Output 229 Figure 2.7d: Gross Domestic Saving as Percentage of GDP, 2000 and Latest Year Turkmenistan Azerbaijan Kazakhstan Uzbekistan Georgia Pakistan Afghanistan Armenia Tajikistan Kyrgyz Republic Data issues and comparability Indicators in this theme are derived from national accounts compiled in accordance with the United Nations System of (SNA). These indicators may not be fully consistent across economies because of differences in their data compilation frameworks. While many economies have adopted the 1993 SNA framework, others are still using the 1968 SNA and a few have moved to the 2008 SNA that uses the chain volume measure as the valuation method. Regional Trends and Tables PRC Korea, Rep. of Taipei,China Mongolia Hong Kong, China India Bhutan Bangladesh Sri Lanka Nepal Economies also have varying reference periods and price valuation methods. Some use the calendar year to compile national accounts while others use a fiscal year. Some economies with small statistical offices were not able to provide timely estimates. Brunei Darussalam Singapore Indonesia Malaysia Myanmar Thailand Viet Nam Cambodia Philippines Timor-Leste Papua New Guinea Vanuatu Fiji Tonga Australia New Zealand Japan Latest Year GDP = gross domestic product, PRC = People s Republic of China. Table 2.8.

11 230 Key Indicators for Asia and the Pacific 2015 Table 2.1: Gross Domestic Product at Purchasing Power Parity (current international dollars, million) Regional Member Afghanistan. 26,954 30,327 36,145 37,714 44,545 46,549 51,634 58,306 62,986 65,300 Armenia 7,116 14,219 16,590 19,373 21,117 18,266 18,896 20,193 22,035 23,164 24,298 Azerbaijan 28,447 60,162 83, , , , , , , , ,061 Georgia 11,447 18,315 20,649 23,816 24,845 24,088 25,907 28,346 30,639 32,128 34,150 Kazakhstan 114, , , , , , , , , , ,946 Kyrgyz Republic 8,054 10,895 11,578 12,902 14,260 14,783 14,893 16,106 16,381 18,439 19,382 Pakistan 356, , , , , , , , , , ,309 Tajikistan 6,163 10,990 12,074 13,340 14,632 15,337 16,539 17,287 18,925 20,637 22,334 Turkmenistan 18,750 27,499 31,452 35,860 41,937 44,835 49,556 58,014 65,612 74,881 82,819 Uzbekistan 48,288 70,587 79,441 87, , , , , , , ,416 China, People's Rep. of 3,660,409 6,554,224 7,605,017 8,897,049 9,941,543 10,885,346 12,358,728 13,810,256 15,147,732 16,554,708 18,030,932 Hong Kong, China 179, , , , , , , , , , ,904 Korea, Rep. of 850,447 1,165,894 1,251,054 1,354,518 1,405,711 1,396,413 1,505,299 1,559,447 1,601,229 1,661,723 1,732,352 Mongolia 8,846 13,603 15,221 17,227 19,129 19,029 20,488 24,526 28,043 31,868 34,908 Taipei,China 476, , , , , , , , ,982 1,020,885 1,074,928 Bangladesh 151, , , , , , , , , , ,360 Bhutan 1,608 2,644 2,912 3,525 3,763 4,047 4,577 5,040 5,390 5,583 6,018 India 2,105,370 3,273,787 3,686,966 4,156,079 4,402,488 4,812,079 5,370,600 5,845,362 6,252,659 6,783,639 7,327,315 Maldives. 2,024 2,495 2,832 3,239 3,145 3,408 3,704 3,821 4,059 4,400 Nepal 28,349 38,001 40,631 43,262 46,819 49,285 52,654 55,504 59,246 62,902 67,502 Sri Lanka 76, , , , , , , , , , ,278 Brunei Darussalam 19,587 24,379 26,233 26,973 26,969 26,694 30,718 32,480 33,788 33,677 31,716 Cambodia 13,260 23,269 26,567 30,059 32,700 32,983 35,370 38,652 42,175 46,128 50,245 Indonesia 973,477 1,377,638 1,498,074 1,635,525 1,767,893 1,863,774 2,003,952 2,171,519 2,343,797 2,511,435 2,676,109 Lao PDR 9,413 15,005 17,350 18,645 19,943 21,305 22,953 26,229 28,762 31,389 35,521 Malaysia 291, , , , , , , , , , ,591 Myanmar , , , ,505 Philippines 261, , , , , , , , , , ,706 Singapore 164, , , , , , , , , , ,691 Thailand 454, , , , , , , ,511 1,003,154 1,046,475 1,067,308 Viet Nam 151, , , , , , , , , , ,715 Cook Islands Fiji 4,146 5,250 5,512 5,610 5,779 5,742 5,984 6,273 6,503 6,828 7,191 Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea 7,912 9,891 10,428 11,472 12,470 13,336 14,521 16,470 18,100 19,196. Samoa ,097 1, ,020 1,099 1,082 1,094 1,144 Solomon Islands ,028 1,028 Timor-Leste 1,086 4,289 6,410 6,577 9,411 6,803 8,089 11,200 11,834 9,725. Tonga Tuvalu Vanuatu Australia 504, , , , , , , , , ,241 1,031,280 Japan 3,290,078 3,889,582 4,064,562 4,264,207 4,289,493 4,079,240 4,323,770 4,388,645 4,543,060 4,612,630 4,631,654 New Zealand 83, , , , , , , , , , ,728 DEVELOPING MEMBER ECONOMIES a 10,492,795 16,630,698 18,809,149 21,294,139 23,066,130 24,588,195 27,372,400 30,120,933 32,552,748 35,171,136 37,848,493 REGIONAL MEMBERS a 14,370,448 21,291,039 23,699,952 26,442,979 28,278,269 29,670,505 32,692,305 35,582,819 38,218,805 40,939,444 43,674,155. = data not available at cutoff date, Lao PDR = Lao People s Democratic Republic. a For reporting economies only. Asian Development Bank estimates.

12 Economy and Output 231 Table 2.2: Gross Domestic Product Per Capita at Purchasing Power Parity (current international dollars) Regional Member Afghanistan. 1,142 1,258 1,475 1,509 1,747 1,790 1,948 2,159 2,290 2,324 Armenia 2,209 4,418 5,149 6,006 6,532 5,637 5,810 6,669 7,286 7,665 8,062 Azerbaijan 3,523 7,078 9,687 12,275 13,683 14,900 15,628 15,754 16,408 17,278 17,524 Georgia 2,581 4,238 4,692 5,419 5,670 5,493 5,840 6,343 6,812 7,165 7,605 Kazakhstan 7,693 13,907 15,701 17,354 18,057 17,934 19,205 20,772 21,892 23,214 24,637 Kyrgyz Republic 1,648 2,117 2,227 2,454 2,696 2,738 2,749 2,940 2,950 3,256 3,355 Pakistan 2,547 3,319 3,839 3,976 4,037 4,096 4,126 4,239 4,377 4,546 4,714 Tajikistan 996 1,604 1,727 1,868 2,006 2,058 2,171 2,216 2,369 2,529 2,675 Turkmenistan 4,165 5,792 6,550 7,381 8,528 9,005 9,829 11,361 12,684 14,290 15,602 Uzbekistan 1,959 2,698 2,999 3,266 3,793 3,943 4,100 4,470 4,849 5,249 5,584 Regional Trends and Tables China, People's Rep. of 2,906 5,037 5,811 6,763 7,518 8,190 9,254 10,291 11,232 12,215 13,235 Hong Kong, China 26,963 36,438 39,941 43,281 44,800 43,936 47,135 50,086 51,250 53,363 55,084 Korea, Rep. of 18,091 24,220 25,863 27,872 28,718 28,393 30,465 31,327 32,022 33,089 34,356 Mongolia 3,670 5,314 5,877 6,621 7,237 7,071 7,481 8,802 9,875 10,993 11,781 Taipei,China 21,467 28,087 30,397 34,203 34,998 34,590 38,631 40,833 42,285 43,731 45,930 Bangladesh 1,169 1,544 1,927 2,089 2,225 2,323 2,450 2,643 2,830 3,003 3,173 Bhutan 2,702 4,164 4,501 5,350 5,608 5,921 6,577 7,116 7,480 7,616 8,077 India 2,072 2,973 3,299 3,665 3,828 4,126 4,543 4,880 5,153 5,521 5,890 Maldives. 5,978 7,040 7,552 8,297 8,174 8,660 9,115 9,097 9,342 9,779 Nepal 1,254 1,552 1,636 1,718 1,834 1,904 2,006 2,085 2,195 2,298 2,432 Sri Lanka 3,959 5,202 5,703 6,205 6,644 6,853 7,419 8,112 8,972 9,692 10,461 Brunei Darussalam 60,303 68,004 71,971 72,900 71,917 70,229 79,415 82,568 84,513 82,908 77,000 Cambodia 1,064 1,746 1,968 2,197 2,358 2,342 2,473 2,662 2,855 3,096 3,306 Indonesia 4,720 6,266 6,725 7,248 7,736 8,055 8,402 8,974 9,550 10,093 10,613 Lao PDR 1,850 2,669 3,019 3,177 3,324 3,481 3,669 4,110 4,415 4,700 5,217 Malaysia 12,403 15,840 16,911 18,108 18,997 18,507 20,365 21,498 22,797 23,933 25,499 Myanmar ,930 4,253 4,633 5,078 Philippines 3,401 4,335 4,616 4,962 5,175 5,183 5,566 5,773 6,169 6,599 6,991 Singapore 40,950 55,134 59,957 64,421 63,394 61,604 70,598 74,949 76,988 80,295 82,763 Thailand 7,309 10,665 11,457 12,214 12,741 12,453 13,528 13,796 15,087 15,676 15,929 Viet Nam 1,959 3,121 3,402 3,681 3,924 4,123 4,396 4,717 5,001 5,294 5,629 Cook Islands Fiji 5,169 6,348 6,640 6,723 6,869 6,792 7,035 7,343 7,578 7,921 8,304 Kiribati 1,401 1,561 1,501 1,626 1,659 1,667 1,637 1,674 1,745 1,785 1,827 Marshall Islands 2,370 2,963 3,095 3,277 3,231 3,214 3,411 3,466 3,682 3,834. Micronesia, Fed. States of 2,523 2,956 3,059 3,088 3,088 3,155 3,289 3,392 3,473 3,372. Nauru Palau 10,284 13,089 13,323 13,940 13,695 12,583 13,231 14,934 16,209 16,194 17,474 Papua New Guinea 1,524 1,671 1,714 1,834 1,939 2,017 2,136 2,357 2,520 2,600. Samoa 3,038 4,461 4,427 6,025 5,833 5,193 5,473 5,850 5,716 5,738 5,955 Solomon Islands 887 1,064 1,213 1,370 1,538 1,484 1,520 1,605 1,659 1,816 1,774 Timor-Leste 1,394 4,536 6,620 6,633 9,267 6,542 7,584 10,256 10,581 8,241. Tonga 3,614 4,534 4,600 4,497 4,583 4,741 4,958 5,178 5,290 5,213 5,389 Tuvalu 2,406 2,520 2,609 2,670 2,965 2,840 2,782 3,245 3,257 3,296 3,364 Vanuatu 2,171 2,234 2,434 2,560 2,708 2,777 2,782 2,801 2,829 2,856. Australia 26,506 32,924 34,739 36,556 37,495 40,193 39,086 41,706 43,011 43,209 43,902 Japan 25,938 30,441 31,791 33,314 33,495 31,857 33,761 34,335 35,615 36,223 36,432 New Zealand 21,567 25,754 27,669 29,152 29,496 30,405 30,907 32,128 32,804 35,554 36,162 DEVELOPING MEMBER ECONOMIES a 3,267 4,854 5,428 6,074 6,508 6,864 7,554 8,116 8,683 9,287 9,917 REGIONAL MEMBERS a 4,275 5,950 6,552 7,227 7,648 7,941 8,653 9,204 9,790 10,385 10,996. = data not available at cutoff date, Lao PDR = Lao People s Democratic Republic. a For reporting economies only. Asian Development Bank estimates.

13 232 Key Indicators for Asia and the Pacific 2015 Table 2.3: Gross National Income Per Capita, Atlas Method (current $) Regional Member Afghanistan Armenia ,520 1,990 2,710 3,520 3,250 3,370 3,420 3,680 3,780 3,780 Azerbaijan ,270 1,890 2,710 3,870 4,800 5,370 5,530 6,290 7,350 7,590 Georgia ,360 1,680 2,090 2,460 2,550 2,680 2,850 3,290 3,560 3,720 Kazakhstan... 1,280 1,260 2,950 3,860 4,980 6,150 6,780 7,440 8,190 9,780 11,560 11,670 Kyrgyz Republic ,040 1,220 1,250 Pakistan ,020 1,060 1,080 1,150 1,260 1,360 1,410 Tajikistan ,000 1,080 Turkmenistan ,600 1,960 2,330 3,050 3,570 4,070 4,660 5,410 6,880 8,020 Uzbekistan ,130 1,300 1,510 1,730 1,940 2,090 China, People's Rep. of ,750 2,050 2,490 3,070 3,650 4,300 5,000 5,870 6,740 7,380 Hong Kong, China 12,660 23,500 26,930 28,890 30,290 32,070 33,950 32,350 33,620 35,690 36,320 38,520 40,320 Korea, Rep. of 6,480 11,650 10,750 17,800 19,980 22,460 22,850 21,090 21,320 22,620 24,640 25,870 27,090 Mongolia 1, ,120 1,410 1,800 1,790 2,000 2,600 3,670 4,360 4,280 Taipei,China 8,321 13,355 14,372 17,075 17,753 18,433 18,408 17,752 19,252 20,129 20,927 21, Bangladesh ,010 1,080 Bhutan ,220 1,340 1,630 1,750 1,830 1,990 2,170 2,320 2,330 2,390 India ,030 1,150 1,260 1,410 1,500 1,530 1,570 Maldives ,770 4,530 4,570 5,430 5,460 5,960 6,640 6,670 6,730 7,170 Nepal Sri Lanka ,210 1,350 1,540 1,770 1,970 2,260 2,580 2,910 3,180 3,400 Brunei Darussalam 12,550 15,790 14,800 23,290 27,730 30,970 34,030 32, , Cambodia ,020 Indonesia ,220 1,380 1,600 1,940 2,150 2,530 3,010 3,580 3,740 3,630 Lao PDR ,000 1,120 1,300 1,490 1,650 Malaysia 2,370 4,010 3,420 5,250 5,830 6,620 7,520 7,620 8,200 8,890 9,890 10,510 10,760 Myanmar Philippines 720 1,020 1,220 1,520 1,650 1,900 2,240 2,490 2,750 2,640 2,980 3,300 3,470 Singapore 12,040 23,610 23,670 28,370 32,080 35,660 36,680 37,080 44,790 48,330 51,390 54,580 55,150 Thailand 1,490 2,730 1,950 2,590 2,870 3,270 3,740 3,850 4,300 4,590 5,180 5,320 5,370 Viet Nam ,000 1,120 1,270 1,390 1,560 1,740 1,890 Cook Islands Fiji 1,790 2,460 2,230 3,590 3,630 3,830 4,020 3,870 3,650 3,720 4,020 4,370 4,540 Kiribati 720 1,160 1,390 1,760 1,710 1,810 1,950 1,870 1,890 1,940 2,420 2,720 2,150 Marshall Islands... 3,040 2,850 3,570 3,620 3,760 3,740 3,700 3,770 3,900 3,990 4, Micronesia, Fed. States of... 2,210 2,210 2,550 2,550 2,550 2,560 2,770 2,870 3,050 3,220 3, Nauru... 2,684 2,490 2,381 4,774 4,192 5,554 7,899 10, Palau... 5,770 5,770 9,410 9,370 9,510 9,270 8,670 8,900 9,530 9,920 10,000 11,110 Papua New Guinea 820 1, ,100 1,180 1,290 1,480 1,860 2, Samoa ,600 2,370 2,560 2,830 3,050 3,020 3,220 3,590 3,860 3,960 4,050 Solomon Islands , ,120 1,520 1,830 1,830 Timor-Leste ,340 1,860 3,010 2,370 3,000 4,080 3,940 4,250 3,120 Tonga 1,220 2,010 2,030 2,500 2,720 2,810 3,170 3,300 3,480 3,790 4,220 4,320 4,290 Tuvalu ,740 3,930 4,710 4,910 5,130 4,720 5,080 5,650 5, Vanuatu 1,200 1,270 1,430 1,780 1,990 2,130 2,510 2,600 2,700 2,850 3,000 3, Australia 17,340 19,300 21,110 30,320 34,160 37,330 42,380 44,000 46,490 50,060 59,760 65,410 64,680 Japan 27,560 41,270 34,980 39,140 38,570 37,590 37,760 37,470 41,980 45,190 47,830 46,330 42,000 New Zealand 13,640 15,270 14,070 25,490 26,420 28,110 28,380 29,410 29,390 31,890 36,280 39, = data not available at cutoff date, Lao PDR = Lao People s Democratic Republic. World Bank. World Development Indicators Online. (accessed October 2015).

14 Economy and Output 233 Table 2.4: Agriculture, Industry and Services Value Added (% of GDP) a Regional Member Agriculture Industry Services Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan Regional Trends and Tables China, People's Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste b Tonga Tuvalu Vanuatu Australia Japan New Zealand = data not available at cutoff date, 0.0 = magnitude is less than half of unit employed, GDP = gross domestic product, Lao PDR = Lao People s Democratic Republic. a Computed as a share of GDP at current prices. b The treatment of oil production from 2004 on reflects 2008 System of concepts on resident units. Prior to 2004, oil production was based on proportion of revenues between Timor-Leste and the licensee or lessee. Economy sources.

15 234 Key Indicators for Asia and the Pacific 2015 Table 2.5: Household and Government Consumption Expenditure (% of GDP) a Regional Member Household Consumption Government Consumption Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People's Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste b Tonga Tuvalu Vanuatu Australia Japan New Zealand = data not available at cutoff date, GDP = gross domestic product, Lao PDR = Lao People s Democratic Republic. a Computed as a share of GDP at current prices. b The treatment of oil production from 2000 on reflects the 2008 System of concepts on resident units. Prior to 2000, oil production was based on proportion of revenues between Timor-Leste and the licensee or lessee. Economy sources.

16 Economy and Output 235 Table 2.6: Gross Domestic Capital Formation and Change in Inventories (% of GDP) a Regional Member Change in Inventories Gross Domestic Capital Formation Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan Regional Trends and Tables China, People's Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste b Tonga Tuvalu Vanuatu Australia Japan New Zealand = data not available at cutoff date, 0.0 = magnitude is less than half of unit employed, GDP = gross domestic product, Lao PDR = Lao People s Democratic Republic. a Computed as a share of GDP at current prices. b The treatment of oil production from 2000 on reflects the 2008 System of concepts on resident units. Prior to 2000, oil production was based on proportion of revenues between Timor-Leste and the licensee or lessee. Economy sources.

17 236 Key Indicators for Asia and the Pacific 2015 Table 2.7: Exports and Imports of Goods and Services (% of GDP ) a Regional Member Exports of Goods and Services Imports of Goods and Services Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan China, People's Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste b Tonga Tuvalu Vanuatu Australia Japan New Zealand = data not available at cutoff date, GDP = gross domestic product, Lao PDR = Lao People s Democratic Republic. a Computed as a share of GDP at current prices. b The treatment of oil production from 2000 on reflects the 2008 System of concepts on resident units. Prior to 2000, oil production was based on proportion of revenues between Timor-Leste and the licensee or lessee. Economy sources.

18 Economy and Output 237 Table 2.8: Gross Domestic Saving (% of GDP) a Regional Member Afghanistan Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Pakistan Tajikistan Turkmenistan Uzbekistan Regional Trends and Tables China, People's Rep. of Hong Kong, China Korea, Rep. of Mongolia Taipei,China Bangladesh Bhutan India Maldives Nepal Sri Lanka Brunei Darussalam Cambodia Indonesia Lao PDR Malaysia Myanmar Philippines Singapore Thailand Viet Nam Cook Islands Fiji Kiribati Marshall Islands Micronesia, Fed. States of Nauru Palau Papua New Guinea Samoa Solomon Islands Timor-Leste b Tonga Tuvalu Vanuatu Australia Japan New Zealand = data not available at cutoff date, GDP = gross domestic product, Lao PDR = Lao People s Democratic Republic. a Computed as a share of GDP at current prices. b The treatment of oil production from 2000 onward reflects 2008 SNA concepts on resident units. Prior to 2000, oil production was based on proportion of revenues between Timor-Leste and the licensee or lessee. Economy sources.