Exports from developing Asia
weakened in the first quarter of 2023as global demand slowed. However,consumption and investment areforecast to boost aggregate regionalgrowth to 4.8%in 2023,as earlier
forecast, with the projection for 2024revised down only marginally to 4.7%.Given balancing developments, growthforecasts for East Asia are maintained
at 4.6% in 2023 and at 4.2%in 2024,
for South Asia at 5.5% in 2023 and 6.1%
in 2024, and for the Pacific at 3.3%in2023 and 2.8%in 2024.
Southeast Asia’s growth prospects aredowngraded slightly from 4.7% to 4.6%in 2023 and from 5.0% to 4.9%in 2024,reflecting weaker global demand formanufactured exports.
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