According to the survey carried out by UNESCAP, the growth rates in the region in the year 2006 were rather high.

The survey also shows that in 2006 the region provided over 30% of world GDP. The leading developing countries were accounted for about 7.9% of the growth. This was a mark of eight years of the region’s economic expansion in a row. That expansion was mainly connected with service and industrial sectors.

The biggest trouble for the region in the year 2006 was high oil prices. This resulted in setting up of inflationary pressure. The countries of the region had to implement stricter monetary policies as well as raise their interest rates. Besides, some Asia-Pacific nations resorted to energy conservation and mass transit system in order to get some relief from rising oil prices and the consequences. But despite all this, the year 2006 was marked by a positive growth rate on the whole. The countries of North and South-East Asia revived their electronics sector, which proved to be beneficial. Oil exporters got benefit from the rise in oil revenues. Here belong such countries as Iran, Brunei, Malaysia, Darussalam and other.

One of the leaders of the period, India, could boast of a 9.2% economic expansion in 2006, benefiting from the automotive and IT sectors as well as back-office operations. As far as China is concerned, it managed to reach a 10.7% growth during this period.

In 2008, Japan’s main customer became China.

Japan’s GDP growth rate in the second quarter of the year was marked as economic slowdown.

The interest rate in Thailand went up to 3.75%.

In Philippine the interest rate by the central bank was raised to 6%.