ADB report shows strong growth in India's share of Asia and Pacific GDP
India's share in the GDP of Asia and Pacific region has increased to 17.3 percent in 2017 from 14.6 percent in 2000, an ADB report said Monday.
As per the ADB's report on 'Key Indicators for Asia and the Pacific 2018', the Asia and Pacific region accounts for more than two-fifths of the share of global GDP in PPP (Purchasing Power Parity) terms.
Asia and the Pacific's growing share of global output, which increased from 30.1 per cent to 42.6 per cent 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 said the three largest economies in Asia and the Pacific — People's Republic of China (PRC), India, and Japan — accounted for more than 70 percent of the region's GDP at PPP in 2017, up from about 63 percent in 2000.
China accounted for 42.7 percent of the region's total output at PPP in 2017, compared with 25.1 percent in 2000.
"The next largest regional share of GDP at PPP in 2017 was that of India at 17.3 percent, up from 14.6 percent in 2000," said the report of the Asian Development Bank (ADB).
Japan was third, with a 10.2 percent share in 2017, down from 23.1 percent in 2000.
The report further said that the combined population of Asia and the Pacific reached 4.14 billion in 2017, or 54.8 percent of the world's total population, down from 56 percent 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 aging 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, the report said.
The report, the 49th edition in an annual series, provides statistics on a comprehensive set of economic, financial, social, and environmental indicators for the 48 regional members of the Asian Development Bank (ADB).