East Asia and Pacific
Regional GDP growth was 6.7 percent in 2002, up from 5.5 percent in 2001, impressive in view of the difficult external environment...Regional growth averaging more than 6.5 percent expected for 2003-04, with China increasingly the dominant player in the regional economy...External financing pattern of East Asia transformed in recent years, with sustained repayments of net private debt since 1997 ($118 billion in five years)...FDI inflows rose in 2002 by 17 percent, from $48.9 billion in 2001 to $57 billion in 2002...   Download EAP Regional Summary in English (48KB); EAP Table in English (20KB)
Eastern Europe and Central Asia
Regional GDP growth was 4.1 percent in 2002, up from 2.5 percent in 2001 (impressive increase mainly due to sharp recovery in Turkey following 2001 crisis, growth induced by high and rising oil prices in Russia and CIS countries)...Regional GDP growth expected to hold near present rates of 3.5 to 4 percent in near term...Shift in region's external financing pattern counters that seen in many other regions...Region received $10 billion in workers' remittances in 2002, somewhat low relative to other regions... Download ECA Regional Summary in English (48KB); ECA Table in English (20KB) 
Latin America and the Caribbean
Broad-based decline in debt flows first evident in East Asia and the Russian federation became focused on Latin America in 2002, largely accounting for severe 2002 downturn where output fell 0.9 percent (modest rise of 0.8 percent in the region, excluding large 11 percent decline in Argentine GDP)...Led by recovery in Argentina, regional growth expected to reach 1.7 percent in 2003, gradually accelerating to 4 percent by 2004-05...Region suffered dramatic drop in debt flows, as well as FDI... Download the LAC Regional Summary in English (50KB); LAC Table in English (20KB)
Middle East and North Africa
Military intervention in Iraq latest in series of shocks to region; growth fell to 2.3 percent in 2002 from 3.2 percent in 2001...Diversified exporters experienced sharp slowdown, while GDP remained virtually unchanged for oil exporters in 2002...Current projections for both oil producers and diversified exporters for modest growth pick up to a range of 3.4 to 4 percent per year over 2003-05...Region continues to be major source and significant destination of workers' remittances...Outlook for workers' remittances will depend on the path of oil prices... Download MENA Regional Summary in English (48KB); MENA Table in English (20KB)
South Asia
South Asian GDP rose 4.9 percent in 2002, below region's potential...GDP expected to rise to 5.3 percent in 2003 and 5.2 percent in 2004, boosted by improving exports and agricultural recovery...India joined top ten developing country recipients of FDI ($3.6 billion in 2002)...Net inward debt flows in the region less than $1 billion in 2002...Foreign exchange reserves risen (especially in India), now equalling eight times short-term debt and nearly 10 months of imports, highest level among all regions... Download SA Regional in English (48KB); SA Table in English (20KB)
Sub-Saharan Africa
Regional GDP rose by 3.2 percent in 2001, 2.6 percent in 2002 (only minimal increases per capita)...Regional growth forecast at 3 percent in 2003, to accelerate only modestly through 2005, assuming more normal weather patterns, pick up in external demand and higher commodity prices...External debt financing mostly from FDI ( $7 billion in 2002) and bilateral grants ($10.4 billion)...Net debt flows near zero, with only South Africa accessing international markets. Download SSA Regional Summary in English (48KB); SSA Table in English (20KB)
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