International Monetary Fund. Asia and Pacific Dept
Published Date:
May 2018
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In this Regional Economic Outlook: Asia and Pacific, the following groupings are employed:

“ASEAN” refers to Brunei Darussalam, Cambodia, Indonesia, Lao P.D.R., Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, unless otherwise specified.

“ASEAN-5” refers to Indonesia, Malaysia, the Philippines, Singapore, and Thailand.

“Advanced Asia” refers to Australia, Hong Kong SAR, Japan, Korea, New Zealand, Singapore, and Taiwan Province of China.

“Emerging Asia” refers to China, India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

“Frontier and Developing Asia” refers to Bangladesh, Cambodia, Lao P.D.R., Mongolia, Myanmar, Nepal, and Sri Lanka.

“Asia” refers to ASEAN, East Asia, Advanced Asia, South Asia, and other Asian economies.

“EU” refers to the European Union.

The following abbreviations are used:


Association of Southeast Asian Nations


Base Erosion Anti-abuse Tax


consumer price index


Comprehensive and Progressive Agreement for Trans-Pacific Partnership


foreign direct investment


foreign-driven intangible income


gross domestic product


global intangible low-taxed income


global value chain


investment saving


Japanese government bond


nonaccelerating inflation rate of unemployment


Organisation for Economic Co-operation and Development


Pacific island countries


producer price index


real effective exchange rate


Tax Cuts and Jobs Act


World Economic Outlook

The following conventions are used:

In tables, a blank cell indicates “not applicable,” ellipsis points (. . .) indicate “not available,” and 0 or 0.0 indicates “zero” or “negligible.” Minor discrepancies between sums of constituent figures and totals are due to rounding.

In figures and tables, shaded areas show IMF projections.

An en dash (–) between years or months (for example, 2007–08 or January–June) indicates the years or months covered, including the beginning and ending years or months; a slash or virgule (/) between years or months (for example, 2007/08) indicates a fiscal or financial year, as does the abbreviation FY (for example, FY2009).

An em dash (—) indicates the figure is zero or less than half the final digit shown.

“Billion” means a thousand million; “trillion” means a thousand billion.

“Basis points” refer to hundredths of 1 percentage point (for example, 25 basis points are equivalent to ¼ of 1 percentage point).

As used in this report, the term “country” does not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis.

This Regional Economic Outlook: Asia and Pacific was prepared by a team coordinated by Koshy Mathai of the IMF’s Asia and Pacific Department, under the overall direction of Changyong Rhee and Kenneth Kang. Contributors include Sergei Dodzin, Juan Angel Garcia Morales, Keiko Honjo (RES), Sarwat Jahan, Joong Shik Kang, Weicheng Lian (RES), Pablo Lopez Murphy, Medha Madhu Nair, Rui Mano, Dirk Muir, Simon Paroutzoglou, Tahsin Saadi Sedik, Piyaporn Sodsriwiboon, Cormac Sullivan, Katsiaryna Svirydzenka, Niklas Johan Westelius, Rizki Wimanda, Irene Zhang, Qianqian Zhang, and country teams. Alessandra Balestieri and Socorro Santayana provided production assistance. Linda Long of the IMF’s Communications Department edited the volume and coordinated its publication and release with editing help from David Einhorn. Heidi Grauel provided layout services. This report is based on data available as of April 2, 2018, and includes comments from other departments and some Executive Directors.

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