ASIAN DEVELOPMENT OUTLOOK APRIL 2023 Economic Forecasts for Asia and the Pacific
ADB forecasts faster growth for developing economies in Asia and the Pacific this year, as the continued easing of pandemic restrictions boosts consumption, tourism, and investment. The People’s Republic of China’s reopening is the main factor brightening the region’s growth prospects. Economies in the region are projected to grow 4.8% this year and next year, improving on the 4.2% growth rate in 2022, according to ADB’s flagship economic report, the Asian Development Outlook - April 2023. The report includes economic forecasts and analysis for 46 economies in Asia and the Pacific. Download the report here.
LEARN MORE
VIDEO: Growth in developing Asia remains resilient, and the economic outlook is improving. The region’s outlook has been boosted in large part by the decision of the People’s Republic of China to end its zero-COVID policy.
SOUNDBITE: Developing Asia’s economic prospects are markedly improving on the rapid re-opening in the People's Republic of China. Chief Economist Albert Park discusses developing Asia's latest economic outlook.
SUBREGIONAL DATA: Explore economic forecast data for Central Asia, East Asia, South Asia, Southeast Asia, and the Pacific.
NEWS RELEASE: Improved consumption and investment are boosting recovery in many regional economies, offsetting the impacts of elevated food and energy prices caused by the Russian invasion of Ukraine and other global headwinds.
