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ADB Forecasts 4.8% Growth for Asia and Pacific in 2023 and 2024
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.
In Focus News and Events
ASEAN Must Act to Strengthen Position in Global Value Chains
ASEAN economies must strengthen their positions in global value chains (GVCs) to bolster resilience against new challenges including future pandemics, geopolitical stability, and climate change, according to a new ADB report.
The new ADB report identified six mega-challenges confronting internationally shared production networks and value chains, which if ignored could upend ASEAN participation in GVCs.
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Data and Statistics ADB's Data and Statistics
Data and statistical analysis in the Asia and Pacific region contributes to knowledge generation in ADB, helping strengthen its institutional priorities and operational effectiveness in its developing member countries.
PRC Reopening Boosts Economic Prospects for Developing Asia
Developing Asia’s economic prospects are markedly improving on the rapid re-opening in the PRC. Population mobility in the PRC has normalized following the end of the zero-COVID strategy, and activity in services is rebounding the fastest. The reopening of the PRC will boost regional growth through demand for goods and services, as well as supply chain linkages.
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Key Indicators Database (KIDB)
KIDB is ADB's central statistical database for macroeconomic and social indicators from across Asia and the Pacific.
AsianBondsOnline
AsianBondsOnline is a one-stop source of information on bond markets in emerging East Asia.
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ADB focuses on sectors and themes that align with the commitment to eradicate poverty. The Bank’s work also spans across several development goals and cross-cutting initiatives.
