ISLAMABAD: A new Asian Development Bank (ADB) report shows Asia and the Pacific accounts for a growing share of global gross domestic product (GDP), while the region continues to make progress to reach the Sustainable Development Goals (SDGs).
The report, Key Indicators for Asia and the Pacific 2018, provides the latest available economic, financial, social, and environmental statistics for the 48 regional members of ADB.
These statistics reveal a region whose share of global GDP continues to increase, growing from 30.1% in 2000 to 42.6% in 2017 (at 2011 purchasing power parity), and whose labor force is steadily shifting away from agriculture towards employment in industry and services. At the same time, the region’s economies continue to strengthen their participation in trade and global value chains.
“Statistics clearly show that Asia and the Pacific continues to make solid progress in reducing poverty, improving its social and physical infrastructure, and increasing its participation in global production networks,” said ADB Chief Economist Yasuyuki Sawada.
“However, the region’s development agenda is still unfinished and better data is crucial for helping policymakers identify priority areas and implement successful interventions. Key Indicators 2018 can help decision-makers by bringing together a wide variety of statistics and highlighting data gaps that need to be bridged.”
A special supplement to this year’s report features new research demonstrating the role of remote sensing in improving the quality, timeliness, and granularity of paddy rice area, yield, and production statistics.
The report builds on methodological work undertaken in collaboration with the national statistical offices and agriculture ministries of the Lao People’s Democratic Republic, Thailand, and Viet Nam.
The study finds that use of satellite imagery and remote sensing technology, compared to traditional methods, can significantly improve data accuracy. The supplement emphasizes the need to make investments in better data collection and management practices, including through technological innovations.