In conclusion, it may be said that while South Asia, Central and West Asia and Pacific Asia showed improvement in sustainability indicators for environment and energy in 2020, they did not do so well in social and governance indicators.
South Asia has no strong trade ties within the region, unlike many parts of Asia, and more particularly the developed parts of Asia, namely Southeast Asia and East Asia. South Asia, therefore, has to formulate its own macroeconomic policies to sustain growth keeping in mind global economic trends.
The data for South Asia shows that Maldives is the most globally integrated country in the region followed by Nepal, India, Sri Lanka, Bhutan, Bangladesh and Pakistan in terms of the average percentage of exports that formed part of the global value chain during the period 2019-2021.
Between 2008 and 2021, the sectoral economic transition witnessed in most countries in South Asia - and in other parts of Asia - has reduced the sectoral share of GDP in agriculture and also the employment burden on agriculture in most countries. This trend, however, changed in the wake of Covid -19 when the share of agriculture in GDP in…
The situation however has been somewhat different in certain countries of South Asia which have raised resources through external borrowings despite having current account deficits - Afghanistan, Maldives, Bhutan, Nepal Pakistan, and Sri Lanka. Caution needs to be exercised by them in resorting to such borrowings.
Carbon finance is expected to play a critical role in leveraging private sector finance for flourishing regional power trade between Bangladesh, Bhutan, India and Nepal, writes Partha Pratim Mitra for South Asia Monitor