Online Courses (English)
This just in:

State PCS

Daily Updates

Social Justice

Key Indicators for Asia and the Pacific 2021: ADB

Star marking (1-5) indicates the importance of topic for CSE
  • 26 Aug 2021
  • 4 min read

Why in News

Recently, Asian Development Bank (ADB) released a report titled as the Key Indicators for Asia and the Pacific 2021.

  • The report demonstrated that the region made substantial progress in the last two decades with respect to several development targets.
  • It presents comprehensive economic, financial, social and environmental statistics for ADB’s 49 regional members.

Asian Development Bank

  • About:
    • It is a regional development bank established in 1966. It has 68 members. India is a founding member.
      • 49 are from within Asia and the Pacific and 19 outside.
    • As of 31st December 2019, ADB’s five largest shareholders are Japan and the United States (each with 15.6% of total shares), the People’s Republic of China (6.4%), India (6.3%), and Australia (5.8%).
  • Aim:
    • To promote social and economic development in Asia and the Pacific.
  • Headquarters:
    • Manila, Philippines.

Key Points

  • Poverty:
    • The pandemic pushed 75-80 million people in the developing Asia-Pacific into extreme poverty in 2020.
    • About 203 million people — 5.2% of developing Asia’s population — lived in extreme poverty as of 2017.
      • Without Covid-19, that number would have declined to an estimated 2.6% in 2020.
  • Contribution to Global GDP:
    • Asia and the Pacific's economy has grown at a robust pace in recent years and contributed as much as 35% to global Gross Domestic Product (GDP) in current US dollars in 2019.
    • But Covid-19 took a toll just when weaker domestic investment and slowing global trade and economic activity started to challenge this momentum.
  • Household Income:
    • A significant number of households engaged in business were severely affected by the pandemic.
      • Among households engaged in agriculture or relying on wages and salary, more than half reported an increase in income, no change or a decrease of less than 26%.
  • Unemployment:
    • As unemployment rates increased by at least 20% in 2020 due to the pandemic across the globe, the Asia-Pacific region lost an estimated 8% of working hours.
    • As businesses were disrupted, many workers lost their jobs, leading to higher unemployment and underemployment rates.
  • Labour Force Participation:
    • From 2019 to 2020, labour force participation rates among women, on average, declined by 1.4%, while labour force participation rates among men declined by 0.8%.
    • 71% of Asia-Pacific’s workforce is now in non-agricultural employment. From 2000-2019, the region’s non-agricultural employment rate grew to 71% from 52%, one of the fastest growth rates worldwide.
  • Sustainable Development:
  • Children Related Data:
    • The prevalence of undernourishment decreased from more than 521 million people in 2001 to 316 million in 2019.
    • Almost all learners in the region were affected by closure of schools during the Covid-19 pandemic.
    • Despite efforts to continue school activities through remote learning, poorer students suffered greater disruption to their education during the pandemic.

Way Forward

  • Asia and the Pacific has made impressive strides, but Covid-19 has revealed social and economic fault lines that may weaken the region's sustainable and inclusive development.
  • To achieve the SDG of the United Nations’ 2030 Agenda for Sustainable Development, decision makers need to harness high-quality and timely data as a guide for actions to ensure that the recovery leaves no one behind – especially the poor and vulnerable.

Source: DTE

SMS Alerts
 

Please login or register to view note list

close

Please login or register to list article as bookmarked

close
 

Please login or register to make your note

close

Please login or register to list article as progressed

close

Please login or register to list article as bookmarked

close