Asian Development Outlook 2004 Update

Developing Asia and the Pacific will grow at 7.0% in 2004, outperforming ADO 2004 forecast of 6.8%. Rebounding exports and buoyant intraregional trade boosted growth, says the ADO 2004 Update. For 2005, as external demand levels off and high oil prices filter through domestic demand, growth forecast is scaled back to 6.2%, from the 6.7% forecast in April. This issue of the Update also assesses different scenarios relating to the short-term impacts of a PRC slowdown and sustained high oil prices on the region.