Breaking News

You are here » Indian-Commodity  :  Economy  :  Share of India in GDP of Asia-Pacific region moves up to 17.3% in 2017: ADB


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.

Related News

View all news

India's growth rate likely to improve to 7.3% in FY20: Crisil

Crisil Ratings in its latest 'India Outlook FY20' report has stated that India's economic growth may improve to 7.3% in the fiscal year 2019-20 (FY20), provided that there are normal rains, oil prices......

India's economy to grow at 7.5% in 2019, 7.7% in 2020: IMF

The International Monetary Fund (IMF) in its January World Economy Outlook update has said that India's economy is expected to grow at 7.5% in the 2019, keeping an upward trajectory as the rest of the......

India has potential to be $5 trillion economy in next 7-8 years: Suresh Prabhu

Expressing confidence over growth of Indian economy, Union Commerce and Civil Aviation Minister Suresh Prabhu stated that India has potential to be a $5 trillion economy in the next 7-8 years. He added......

Top News

View all news

Power Finance sanctions Rs 7,785-crore term loan for Telangana irrigation project

Power Finance Corporation (PFC) has sanctioned a Rs 7,785-crore term loan in two packages for the Kaleshwaram irrigation project in Telangana. The project envisages irrigation facilities for an ayacut......

Surya Roshni incorporates WOS company

Surya Roshni  has incorporated a wholly owned subsidiary (WOS) namely Surya Roshni Led Lighting Projects, having Registered office at New Delhi (India) on January 21, 2019 vide Certificate of......

Spice Mobility incorporates foreign subsidiary in Nepal

Spice Mobility has incorporated 'Digispice Nepal', a 100% foreign subsidiary of the company, in Nepal. The main object of the company is to operate in the information technology industry and provide software......