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p. 2 of 77 BACK | NEXT Foreword, Acknowledgments, Contents, Acronyms and Abbreviations, Definitions I. Developing Asia and the World Developing Asia and the Pacific: Performance and Prospects Prospects for the World Economy in 2006-2007 Subregional Summaries Textiles and Clothing in the Post-Quota Era: The Outlook for Asian Suppliers The Doha Development Agenda: Asian Challenges and Prospects after the Ministerial Meeting in Hong Kong, China II. Economic trends and prospects in developing Asia III. Routes for Asia's Trade Statistical appendix

Asian Development Outlook 2006

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Developing Asia and the World

Developing Asia and the Pacific: Performance and prospects

Economic growth in developing Asia and the Pacific surprised on the upside in 2005. In September last year, the Asian Development Outlook (ADO) 2005 Update forecast aggregate regional growth of 6.6%. The ADO 2006's estimate of growth is now 7.4%, well above the average rate of growth in the region since 2000. If purchasing power parity weights, rather than weights based on market exchange rates, are used to aggregate over countries, regional growth in 2005 is estimated to have been even faster, at 8.0%. With the release of revised gross domestic product estimates for 2004 in a number of countries, growth in 2004 has now been raised to 7.8%, from 7.4% in the ADO 2005 Update.

On the basis of a broadly favorable outlook for the international economy, the continuing trend toward improved economic management and performance, and apparent resilience to high oil prices, the ADO 2006 revises up its aggregate growth projection for 2006, and, to a lesser extent, for 2007 (Figure 1.1.1). Aggregate regional growth of 7.2% is now expected in 2006, easing to 7.0% in 2007. But risks remain, and could yet unsettle a generally positive outlook. These risks include the possibility of a disorderly unraveling of global payments imbalances (which are still widening), heightened protectionist trade pressures, yet higher oil prices, and the possibility of an antigen shift of the avian flu virus into the human population.

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