Robust growth is forecast for South Asia in fiscal year (FY) 2024, driven by strong gains in investments, consumption, and the electronics and services sectors. Gross domestic product (GDP) is estimated at 6.3% in FY2024 and 6.6% in FY2025 in South Asia. In Bangladesh, GDP growth is projected at 6.1% in FY2024 behind the growth of traditional low-end garments. Bhutan's projected GDP is at 4.4% given major developments in the country's hydropower sector. In India, GDP is forecast at 7.0% in FY2024, after a strong momentum in manufacturing and services in FY2023 and with exports expected to pick up in FY2025 with the rise in global growth. Growth in Maldives is estimated at 5.4% in FY2024 supported by tourism and construction. Nepal is estimated to grow at 3.6% backed by hydroelectric production and domestic demand. Amid recovery efforts in Sri Lanka, modest growth at 1.9% is forecast for the country in FY2024. In Southeast Asia, Myanmar’s GDP is projected to remain low at 1.2%.

Author: Asian Development Bank

Year: 2024

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Tags: South Asia, ADB, Hydropower, Tourism, Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, Sri Lanka

Financing Transport Connectivity in the BIMSTEC Region looks at how to finance an overhaul of transport infrastructure in the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) subregion. The report identifies institutional gaps in the BiMSTEC regional institutions compared with regional institutions in the European Commission, Association of Southeast Asian Nations, and the South Asia Subregional Economic Cooperation (SASEC) partnership.

Author: Asian Development Bank

Year: 2023

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Tags: ADB, South Asia, Transport, Regional Cooperation

This publication gives statistics on economic, financial, social, and environmental measures, as well as select indicators for the Sustainable Development Goals (SDGs). Statistics for Asian Development Bank's member countries include figures for energy, transport and communications, and international trade and logistics.

Author: Asian Development Bank

Year: 2023

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Tags: ADB, South Asia, Sustainable Development Goals

The economy of Maldives, being reliant on tourism, went into recession due to border closures and travel restrictions during the coronavirus (COVID-19) pandemic. The pandemic called attention to the need for Maldives to diversify its economy to reduce short-term macroeconomic volatility. In addition, Maldives stands to benefit from setting up regional maritime connectivity for strengthening food trade with other South Asian countries.

Author: Abdulla Ali, Elisabetta Gentile, Macrina Mallari, Thiam Hee Ng

Year: 2023

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Tags: ADB, Tourism, COVID-19, Maldives

This publication discusses new directions for expanding regional cooperation and integration in Asia and the Pacific, as laid out in the Regional Cooperation and Integration Conference held in 2022 in Bangkok, Thailand. One panel discussion tackled how regional platforms such as the South Asia Subregional Economic Cooperation (SASEC) could support cross-border environmental protection of shared natural resources. In another panel, Mr. Nilaya Mitash, principal operations coordination specialist on regional cooperation for the Asian Development Bank, discussed cross-border logistics and the Electronic Cargo Tracking System (ECTS) initiative under the SASEC program.

Author: Asian Development Bank

Year: 2023

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Tags: ADB, Logistics, Regional Cooperation, Electronic Cargo Tracking System, SASEC