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Share of India in GDP of Asia-Pacific region moves up to 17.3% in 2017: ADB

The Asian Development Bank (ADB) in its latest report on 'Key Indicators for Asia and the Pacific 2018' has stated that share of India in the Gross Domestic Product (GDP) of Asia and Pacific region moved up to 17.3% in 2017 from 14.6% in 2000. It added that the Asia and Pacific region accounts for more than two-fifths of the share of global GDP in Purchasing Power Parity (PPP) terms.

The report said the three largest economies in Asia and the Pacific People's Republic of China (PRC), India, and Japan accounted for more than 70% of the region's GDP at PPP in 2017, up from about 63% in 2000. China accounted for 42.7% of the region's total output at PPP in 2017, compared with 25.1% in 2000. The next largest regional share of GDP at PPP in 2017 was that of India at 17.3%, up from 14.6% in 2000, while Japan was third, with a 10.2% share in 2017, down from 23.1% in 2000.

According to the report, Asia and the Pacific's growing share of global output, which increased from 30.1% to 42.6% during the review period, came at the expense of the global shares of North America, Europe, South America, and the rest of the world, which declined by 6.8, 4.7, 1.3, and 0.3 percentage points, respectively. The report further said that combined population of Asia and the Pacific reached 4.14 billion in 2017, or 54.8% of the world's total population, down from 56% in 2000.

In 2017, 5 of the 10 most populous economies in the world were located in Asia and the Pacific, including the two most populous, China (1.39 billion) and India (131 billion). The region's population is gradually ageing amid increasing life expectancy and decreasing fertility rates. In 2050, the number of people in Asia and the Pacific over the age of 65 is expected to exceed the number under the age of 15.

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