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ADB Raises Developing Asia and the Pacific’s Economic Growth Forecast for 2024

ADB has slightly raised its economic growth forecast for developing Asia and the Pacific this year to 5.0% from a previous projection of 4.9%, as rising regional exports complement resilient domestic demand.

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Economic Growth Forecast for Developing Asia and the Pacific

The region’s growth forecast for 2024 is increased slightly to 5.0%, while the 2025 projection is maintained at 4.9%. Headline inflation in developing Asia is now forecast to ease further from 3.3% last year to 2.9% this year, stabilizing at 3.0% in 2025.

After a post-pandemic recovery that was driven mainly by domestic demand, exports are rebounding and helping propel the region’s economic growth. Strong global demand for electronics, particularly semiconductors used for high-technology and artificial intelligence applications, is boosting exports from several Asian economies.

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