Asia's Developing Economies Projected to Contract by -0.7% in 2020, Lowest Since the 1960s
- A Small
- A Medium
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The Asian Development Bank (ADB), in its September 2020 Developing Asia's Outlook report, projected economic growth in developing Asian economies at -0.7% in 2020. This contraction is the first since the 1960s, or the last six decades. However, next year, economic growth is projected to surge to a positive 6.8%.
Meanwhile, excluding newly industrialized economies (NIEs) – namely Hong Kong, South Korea, Singapore, and Taipei – economic growth in developing Asian economies is estimated at -0.5% this year. In 2021, growth is projected to be a positive 7.2%.
The ADB stated that Asia's economic growth will recover with an L-shaped or "swoosh" (Nike logo) curve, not a V-shaped curve. A "swoosh" curve recovery means that after the economic downturn, it will take a long time to return to pre-pandemic conditions. An L-shaped curve indicates that when the economy falls, recovery is slow and may not bounce back to its previous level.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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| Name | Value | % | |
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| Inflasi yoy (Jul) | 2,88% | -0.46 | |
| Inflasi mom (Jul) | -0,14% | -0.58 | |
| Economic growth | 5,11% | +0.08 | |
| Pertumbuhan ekonomi (yoy) (Q1) | 5,61% | +4.08 | |
| Persentase kemiskinan (Mar) | 8,07% | -0.18 | |
| Gini rasio (Sem2) | 0,38 | 0.00 | |
| Nilai Tukar USDIDR | 17.916 | +0.01 | |
| PDB ADHK (Q1) | 3.447,70 | -0.77 | |
| Neraca perdagangan (Jun) | -450,50 | -72.02 | |
| Ekspor Migas (Jun) | 1,07 | +40.52 | |
| Impor Migas (Jun) | 4,56 | +0.96 | |
| Ekspor (Jun) | 25,46 | +9.72 | |
| Impor (Jun) | 25,91 | +4.41 | |
| Kunjungan Wisman (Mei) | 1,38 | +10.69 | |
| NTP (Jul) | 116,16 | +1.32 |
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