The World Bank's twice-yearly Global Economic Prospects examines growth trends for the global economy and how they affect developing countries. The Global Economic Prospects is a World Bank Group corporate flagship. The reports include three-year forecasts for the global economy as well as relevant scenarios.
In the East Asia and Pacific region, growth is expected to ease to 6.7 percent in 2015 and remain stable over the next two years, according to the June 2015 issue of Global Economics Prospects. This reflects a continued slowdown in China that is offset by a modest pickup in the rest of the region. A net oil importer, the region is expected to benefit from lower fuel prices, although commodity exporters Indonesia and Malaysia face pressures from lower global prices of oil, gas, coal, palm oil, and rubber. Growth in China is on course to ease to 7.1 percent this year. Regional growth (excluding China) is projected to be 4.9 percent this year, rising to 5.4 percent by 2016 due to strengthening external demand -- notwithstanding slower growth in China, less policy uncertainty in Thailand, and easing domestic pressures elsewhere.
East Asia and Pacific regional forecast
(annual percent change unless indicated otherwise)
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 differ at any given moment in time.
a. Growth rates over intervals are compound weighted averages; average growth contributions, ratios and deflators are calculated as simple averages of the annual weighted averages for the region.
b. GDP at market prices and expenditure components are measured in constant 2010 U.S. dollars.
c. Sub-region aggregate excludes Fiji, Myanmar and Timor-Leste, for which data limitations prevent the forecasting of GDP components or Balance of Payments details.
d. Exports and imports of goods and non-factor services (GNFS).
East Asia and the Pacific economy forecasts
(Real GDP growth at market prices in percent and current account balance in percent of GDP, unless indicated otherwise)
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. Growth rates over intervals are compound weighted averages.
b. The start of production at Papua-New-Guinea-Liquefied Natural Gas (PNG-LNG) is expected to boost PNG's GDP growth to 16 percent and shift the current account to a surplus in 2015.
c. Non-oil GDP. Timor-Leste's total GDP, including the oil economy, is roughly four times the non-oil economy, and highly volatile, sensitive to changes to global oil prices and local production levels.