GDP growth forecast in Asia Pacific 2019-2020, by country

In 2018, the Maldives had the highest estimated gross domestic product (GDP) growth with 8.7 percent, followed by Bangladesh with an estimated GDP growth of 7.9 percent. Nevertheless, forecasts indicated that the growth will decrease in the following two years.

The economic state in Asia
In 2018, China led the Asia Pacific region in terms of GDP with 13.61 trillion U.S. dollars, followed by Japan, India and South Korea. By comparison, the GDP value for emerging and developing Asia was at 19.15 trillion U.S. dollars in that year. In terms of GDP per capita, Macao ranked the highest with 86.36 thousand U.S. dollars, followed by Singapore with a per capita GDP of 64.58 thousand U.S. dollars.

Higher GDP growth for developing Asia Pacific countries
For 2019 and 2020, it was forecasted that India will have the highest GDP growth with 7.5 percent in 2019 and 7.6 percent in 2020. Overall, Timor-Leste had the highest predicted rise in GDP growth from 2018 to 2020. By 2020, the GDP of Bangladesh, Pakistan, Macao and Singapore were predicted to decline. However, South Asia, Southeast Asia and Southwest Asia will be leading the region’s economic growth with comparably higher GDP growth rates. Developed countries including Australia, New Zealand and Japan were projected to have stagnant GDP growth.

Forecasted gross domestic product (GDP) growth in the Asia Pacific region from 2019 to 2020, by country

2018*2019**2020**
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Source

Release date

April 2019

Region

APAC

Survey time period

2017

Special properties

estimates and forecasts as of March 2019

Supplementary notes

* Estimate.
** Forecast.

Aggregate growth rate calculated using 2015 GDP in 2010 United States dollars as weights.

The estimates and forecasts for countries relate to fiscal years. These are defined as follows, with 2018 referring to the fiscal year spanning: 1 April 2018 to 31 March 2019 in India; 21 March 2018 to 20 March 2019 in Afghanistan and the Islamic Republic of Iran; 1 July 2017 to 30 June 2018 in Bangladesh, Bhutan and Pakistan; and 16 July 2017 to 15 July 2018 in Nepal.

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