- Economic growth in developing Asia is expected to rebound to 7.3% this year, supported by a healthy global recovery and progress on COVID-19 vaccines.
- Growth in developing Asia is gaining momentum, although renewed COVID-19 outbreaks could undermine the recovery. Regional growth in 2022 is expected to be 5.3%.
- Inflation in developing Asia is projected to fall to 2.3% from 2.8% last year, as food-price pressures ease in India and the PRC. Inflation is forecast to rise to 2.7% in 2022.
Economic growth in developing Asia is set to rebound in 2021, supported by a healthy global recovery and progress on COVID-19 vaccines, according to ADB’s flagship economic publication, Asian Development Outlook (ADO) 2021. The growth is forecast to moderate slightly in 2022. ADB Chief Economist Yasuyuki Sawada says that while growth in the region is gaining momentum, renewed COVID-19 outbreaks could still undermine the recovery.
Developing Asia’s Economic Outlook: April 2021
COVID-19 remains a big risk for developing Asia’s economies
Daily new COVID-19 cases in developing Asia
but the region is showing resiliency
Vaccine rollouts will support recovery efforts
Stimulus packages from governments are also helping
Growth is expected to rebound in 2021
GDP Growth Outlook | Developing Asia
even as recovery paths diverge
Most economies in the region will rebound this year
and growth will continue in 2022
People’s Republic of China Growth Forecast
India Growth Forecast
Inflation will remain muted