ADB: Exports, domestic demand deliver solid growth in Asia and the Pacific
High demand for exports and rapidly expanding domestic demand helped growth pick up across most of the economies in developing Asia, according to the Asian Development Bank. The lender forecasts in its new Asian Development Outlook that GDP growth in Asia and the Pacific will reach 6.0% in 2018 and 5.9% in 2019, a slight deceleration from the 6.1% registered in 2017.
Excluding the high-income newly industrialised economies, growth is expected to reach 6.5% in 2018 and 6.4% in 2019, from 6.6% in 2017. ADO is ADB's flagship annual economic publication.
Growth in South Asia remains among the world's fastest, driven by a recovery in India, the region's largest economy. Indian growth is expected to pick up to 7.3% in fiscal year 2018 and 7.6% in 2019.
