This report forecasts growth in developing Asia of 7.1% in 2021 and 5.4% in 2022 in an uneven recovery caused by divergent growth paths. Its theme chapter explores sustainable agriculture.
Growth forecasts are revised up for East Asia and Central Asia from the projections made in April, but down for South Asia, Southeast Asia, and the Pacific. This reflects differences in vaccination progress and control of domestic COVID-19 outbreaks but also other factors, including rising commodity prices and depressed tourism. Inflation is expected to remain under control. The main risks to the economic outlook come from the COVID-19 pandemic, including the emergence of new variants, slower-than-expected vaccine rollouts, and waning vaccine effectiveness.
Sustainable food production and agricultural systems that are resilient to climate change will be crucial for developing Asia. To transform agriculture in the region, its economies must tackle challenges from changing consumer demand, changing demographics, and a changing and more fragile environment.
- Developing Asia's economic growth forecast is trimmed to 7.1% this year amid COVID-19 concerns; outlook for 2022 is 5.4% - ADB Report
- 2021 growth outlook is upgraded for East Asia and Central Asia, but downgraded for Southeast Asia, South Asia, and Pacific - ADB Report
- Inflation in developing Asia is projected at 2.2% this year and 2.7% in 2022 - ADB Report
Table of Contents :
- Vaccines, variants, and Asia's uneven recovery
- Transforming agriculture in Asia
- Economic trends and prospects in developing Asia
- Statistical appendix
- Additional Details