Asian Development Outlook 2004 Update

Publication | October 2004

Developing countries in Asia and the Pacific will grow at 7.0% in 2004, outperforming the previous forecast of 6.8%. Rebounding exports and buoyant intraregional trade boosted growth.

For 2005, as external demand levels off and high oil prices filter through domestic demand, growth forecast is scaled back to 6.2%, from the 6.7% forecast in April. This issue of the Update also assesses different scenarios relating to the short-term impacts of a PRC slowdown and sustained high oil prices on the region.