GDP (current US$) Population, total. Yet income inequality remains a challenge. East Asia. East Asia, Pacific 2021 GDP growth to accelerate to 7.4% Join government officials, private sector leaders, and civil society representatives from across the region to discuss effective . East Asia, sometimes defined geographically as Northeast Asia and abbreviated as EA or NEA, is along with Southeast Asia located at the far eastern regions of Asia, which is defined in both geographical and ethno-cultural terms. 27 This working paper series is produced by the East Asia and Pacific Disaster Risk Management Team of the World Bank, with support from the Global Facility for Disaster Reduction and Recovery (GFDRR). CSV XML EXCEL. Cities across East Asia and the Pacific are not delivering infrastructure, jobs, and services at a pace as rapid as urban development, leading to widening inequalities which may hamper economic growth and lead to social divisions, says a new World Bank report called Expanding Opportunities for the Urban Poor. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Note: a) World Bank East Asia and Pacific Economic Update, October 2018 (World Bank 2018a). Doi: 10.1596/978-1-4648-1799-1. The region managed to post a 1.2% growth in 2020, largely thanks to China's strong recovery in the second half of a pandemic-hit year. Ex-China, World Bank slashes economic recovery for Asia Countries must take action now - including urgent investments in healthcare capacity and targeted fiscal measures - to mitigate some of the immediate impacts, according to East Asia and Pacific in the Time of COVID-19, the World Bank's April 2020 Economic Update for East Asia and the Pacific. World Bank sees 'three-speed' recovery across East Asia and Pacific. License: Creative Commons Attribution CC BY 3.0 IGO Download. Online tool for visualization and analysis. World Bank (2021-09-27) The East Asia and Pacific (EAP) region is suffering a reversal of fortune. A document in the World Bank's archives tells a story of modest beginnings: In 1962, representatives of South Korea and the International Development Association, the World Bank's fund for the world's poorest countries, signed a Development Credit Agreement for a railroad project "to meet growing traffic needs, to improve its operating efficiency and to decrease its operating costs." Online tool for visualization and analysis. Rapidly Urbanizing East Asia Pacific. SINGAPORE (ICIS)--Overall economic growth in developing East Asia and Pacific countries this year is projected to accelerate to 7.4%, led by the strong recovery in China and Vietnam, the World Bank said on Friday. T he coronavirus outbreak will have a profound impact on emerging Asian economies and may push some countries in the region into a recession, the World Bank warns. DataBank. AttributionPlease cite the work as follows: World Bank. East Asia & Pacific (IDA-eligible countries) Human Capital Index. 2021. Graph, map and compare more than 1,000 time series indicators from the World Development Indicators. The East Asia and Pacific region is generating most of the world's waste, at 23 percent, and the Middle East and North Africa region is producing the least in absolute terms, at 6 percent. In a . The modern states of East Asia include China, Japan, Mongolia, North Korea, South Korea, and Taiwan. c) Global growth and commodity price forecasts represent preliminary working assumptions. . In 2020, many EAP countries successfully contained COVID-19 and economic activity swiftly revived as other regions struggled with the pandemic and economic recession. The East Asia and Pacific region, excluding China, is expected to grow 4% this year, World Bank President David Malpass said, down from a 4.4% forecast in March, with countries like conflict-torn . Among major economies of the region, Malaysia -3.1%), the Philippines (-1.9%), and (Thailand ( -5%) are forecast to experience the biggest contractions this year . Economic activity began to slow in the second quarter of 2021, and growth forecasts have been downgraded for most countries in the region, according to the World Bank's East Asia and Pacific Fall . CSV XML EXCEL. School enrollment, primary (% gross) CO2 emissions (metric tons per capita) Poverty headcount ratio at national poverty lines (% of population) Life expectancy at birth, total (years) GNI per capita, Atlas method (current US$) Statistical Capacity Score (Overall Average) (scale 0 - 100) Supporting inclusive growth is one of IFC's priorities in the regionwhere our commitments totaled $4.2 billion in the fiscal year ended in June 2014, including $1.4 billion mobilized from other investors. Economic growth in East Asia and the Pacific has lifted millions out of poverty over the past decades. ; East Asia and the Pacific is the world's . Download. This reflects domestic shutdowns, taking up employment overseas. World Bank East Asia and Pacific Economic Update, October 2021 : Long COVID. In 2020, many EAP countries successfully contained COVID-19 and economic activity swiftly revived as other regions struggled with the pandemic and economic recession. Data collected by monetary authorities in receiving countries and by the World Bank phone In our analysis, we used World Bank Health, Nutrition, and Population (HNP) data from 1995 to 2014 for East Asia Pacific (EAP) countries to explore health system comparability across member nations. A World Bank study identified coastal areas with low elevation, and assessed the probable consequences of continued sea-level rise for eighty . The economies of East Asia and the Pacific began to bounce back after a severe economic shock in 2020, but recovery has been uneven. We applied a hierarchical cluster analysis using Ward's method and a squared Euclidean distance approach to classify 24 EAP countries into four . Abstract. All island nations and countries with heavy concentrations of population and economic activity in low-lying coastal regions are vulnerable to sea-level rise, including in the East Asia and Pacific region. b) Nonoil GDP. "Long COVID" East Asia and Pacific Economic Update (October), World Bank, Washington, DC. The East Asia and Pacific (EAP) region is a key player in the marine plastics crisis with a groundswell of public support for urgent action against plastic pollution to protect communities, ecosystems, and economies. East Asia & Pacific. Developing East Asian and Pacific countries must strengthen social security nets and help poor citizens climb the economic ladder if they want to dodge the negative effects of inequality, it added. The World Bank estimates a 4.3 percent decrease of remittance flows to the Pacific region for 2020, with country-specific projections ranging from 3 percent in the Federated States of Micronesia (FSM) to 29 percent in Palau. BANGKOK -- The East Asia and Pacific region is experiencing a "three-speed" exit from the coronavirus pandemic and needs to . Presents a brief overview of employment challenges in small Pacific island countries (PICs), specifically small PICs that are unlikely to follow the employment trajectory of fast-growing East Asian economies, with populations of significantly less than 1 million, and including Kiribati, the Marshall Islands, the Federated States of Micronesia, Palau, Samoa, the Solomon Islands, Tonga, Tuvalu . Graph, map and compare more than 1,000 time series indicators from the World Development Indicators. Disaster Risk Management in East Asia and the Pacific Working Paper Series No. East Asia & Pacific (IDA-eligible countries) Human Capital Index. Now the region is being hit hard by the COVID-19 Delta variant while many advanced economies . Ex-China, World Bank slashes economic recovery for Asia. In "East Asia Pacific at Work" we argue that the relatively short history of labor market intervention and social protection in East Asia Pacific is an opportunity. Merchandise Trade statistics data for East Asia & Pacific (EAS) including exports and imports, applied tariffs, top exporting and importing countries, effectively applied and MFN tariff along with most exported and imported product groups, along with development indicators such as GDP, GNI per capita, trade balance and trade as percentage of GDP for Most Recent Year. There are fewer 'sacred cows' and entrenched interests than in other low and middle income countries. The East Asia and Pacific (EAP) region is suffering a reversal of fortune. Economic activity in the rest of East Asia and Pacific is forecast to contract by 1.2 % in 2020 before rebounding to 5.4% in 2021. March 31, 2020 6:12 AM EDT. DataBank. Growth forecasts are downgraded for most countries in East Asia and the Pacific region as economies slowed on the back of Delta. However, the fastest growing regions are Sub-Saharan Africa, South Asia, and the Middle East and North Africa, where, by 2050, total waste generation is . Due to the economic distress, poverty in the region stopped declining for the first time in 20 years and 32 million people were prevented from escaping poverty. Our report suggests ways in which governments can be more active to .
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