GLOBAL ECONOMIC PROSPECTS 2013 :
East Asia and the Pacific by The World Bank
Growth in the East Asia & the Pacific region slowed to 7.5 percent in 2012, which nevertheless represented 40 percent of global growth. The slowdown was due to slower growth in China, which has started to shift away its economy from excessive reliance on investment and net exports.
Growth in the rest of the region accelerated to 6.2 percent, 1.6 percentage points faster than the average of the preceding decade and comparable to growth during the boom and bounce-back years of 2007 and 2010.
With virtually all countries in the region having recovered from the 2008 crisis—largely thanks to domestic stimulus—rising debt levels and asset bubbles are increasingly a source of concern especially in the context of strong capital flows and weak external demand environment.
| '00-09 | '10 | '11 | '12 | '13 | '14 | '15 | |
| Cambodia | 7.21 | 5.96 | 7.07 | 7.34 | 6.97 | 7.01 | 6.18 |
| China | 9.39 | 10.40 | 9.33 | 7.78 | 7.74 | 7.95 | 7.86 |
| Indonesia | 4.60 | 6.20 | 6.53 | 6.21 | 6.21 | 6.50 | 6.24 |
| Lao, PDR | 6.25 | 8.53 | 8.04 | 8.30 | 8.03 | 7.68 | 8.28 |
| Malaysia | 3.86 | 7.15 | 5.14 | 5.57 | 5.12 | 5.07 | 5.29 |
| Myanmar | 9.71 | 5.30 | 5.50 | 6.30 | 6.50 | 6.60 | 6.70 |
| Philippines | 3.99 | 7.63 | 3.63 | 6.75 | 6.20 | 6.41 | 6.44 |
| Thailand | 3.55 | 7.81 | 0.08 | 6.54 | 4.97 | 5.03 | 5.49 |
| Timor-Leste | 3.33 | 9.47 | 10.60 | 10.60 | 10.40 | 10.20 | 9.00 |
| Vietnam | 6.56 | 6.38 | 6.18 | 5.20 | 5.34 | 5.43 | 5.35 |
Source: World Bank.
World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not significantly differ at any given moment in time.
Samoa; Tuvalu; Kiribati; Democratic People's Republic of Korea; Marshall Islands; Micronesia, Federated States; N. Mariana Islands; Palau; and Tonga are not forecast owing to data limitations.
a. GDP growth rates over intervals are compound average; current account balance shares are simple averages over the period.
b. GDP measured in constant 2005 U.S. dollars.
c. The start of production at Papua-New-Guinea-Liquefied Natural Gas (PNG-LNG) is expected to boost PNG's GDP growth to 20 percent and shift the current account to a 9 percent surplus in 2015.
World Bank forecasts are frequently updated based on new information and changing (global) circumstances. Consequently, projections presented here may differ from those contained in other Bank documents, even if basic assessments of countries’ prospects do not significantly differ at any given moment in time.
Samoa; Tuvalu; Kiribati; Democratic People's Republic of Korea; Marshall Islands; Micronesia, Federated States; N. Mariana Islands; Palau; and Tonga are not forecast owing to data limitations.
a. GDP growth rates over intervals are compound average; current account balance shares are simple averages over the period.
b. GDP measured in constant 2005 U.S. dollars.
c. The start of production at Papua-New-Guinea-Liquefied Natural Gas (PNG-LNG) is expected to boost PNG's GDP growth to 20 percent and shift the current account to a 9 percent surplus in 2015.
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