GTDW FDI Trade & Supply Chain Digitalisation News
Apr 151 min
"We see strong, stable growth for the majority of economies in developing Asia this year and next. Consumer confidence is improving, and investment is resilient overall. External demand also appears to be turning a corner, particularly with regard to semiconductors." Albert Park, ADB Chief Economist
Economic growth in developing Asia continues to be resilient. Following the rise in inflation in 2021 and 2022, inflation has declined in 2023 and into 2024. Growth is being driven by robust domestic demand, improving semiconductor exports, and continued recovery in tourism. ADB forecasts 4.9% growth for developing Asia this year and next year.