Plunging western demand for developing Asia's exports would trim the region's potential economic output this year by 2.8 percent, the Asian Development Bank said Wednesday.
It said that as the global slump in 2009 hits gross domestic product growth for countries in the Organisation for Economic Cooperation and Development (OECD), Asian economies that rely on exports to these nations will be hit.
It said in a study that it saw a 2.8 percent cut in developing Asia's GDP, including a 3.9 percent drop in China and a 4.1 percent fall in India.
Had the crisis not taken hold, exports to OECD countries "would have generated annual GDP growth in Asia (of) between 2.3 percent and 4.0 percent" in 2009 and 2010, it added.
Trade with OECD countries would raise developing Asia's GDP next year, "but still significantly below" its potential.