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Economy


DEVELOPING ASIA'S GROWTH REVISED UP BY ADB AS TECH EXPORTS GROW

Regional lender keeps forecasts for ASEAN economies, China, India unchanged

Containers are offloaded from the freighter Alula Express at South Korea's Busan
Newport International Terminal, one of the largest container ports in the world.
© AP

RAMON ROYANDOYAN, Nikkei staff writer
July 17, 2024 09:06 JST



MANILA -- The Asian Development Bank has revised upward its growth forecast for
developing Asia in 2024, encouraged by improved tech-related exports in South
Korea and Taiwan and robust domestic demand across the region.

Developing Asia's gross domestic product is now forecast to increase 5.0% this
year, slightly faster than the 4.9% projected in April, according to the bank's
latest Asian Development Outlook, released on Wednesday. The multilateral lender
kept its growth forecast for 2025 unchanged at 4.9%.






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