Sustainable trade
ADB Outlook 2020 Supplement: Lockdown, loosening, and Asia’s growth prospects
Published 01 June 2020
Developing Asia is now projected to grow by only 0.1% in 2020, which would be the lowest regional growth outcome since 1961.
This publication provides updated economic forecasts for Asia and the Pacific, taking into consideration the impact of coronavirus disease (COVID-19). The report states that contraction in growth is expected in all subregions except in East Asia. Growth will rebound to 6.2% in 2021 but composite GDP next year will remain below its pre-crisis trend, so the recovery will not be V-shaped. Excluding newly industrialized economies, regional growth is forecast at 0.4% in 2020 and 6.6% in 2021. Regional inflation is expected to remain benign at 2.9% in 2020 and 2.4% in 2021.
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Author
Asian Development Bank
Asian Development Bank (ADB) is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members – 49 from the region.
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