Asia and the Pacific is continuing its solid economic recovery thanks to healthy domestic demand, stable financial conditions, and a resilient services sector, while inflation in the region is receding.

Asia and the Pacific is continuing its solid economic recovery thanks to healthy domestic demand, stable financial conditions, and a resilient services sector, while inflation in the region is receding.

Exports from developing Asia weakened in the first quarter of 2023 as global demand slowed. However, consumption and investment are forecast to boost aggregate regional growth to 4.8% in 2023, as earlier forecast, with the projection for 2024 revised down only marginally to 4.7%.

Exports from developing Asia weakened in the first quarter of 2023 as global demand slowed. However, consumption and investment are forecast to boost aggregate regional growth to 4.8% in 2023, as earlier forecast, with the projection for 2024 revised down only marginally to 4.7%.

This publication highlights brighter economic prospects for Asia and the Pacific amid ongoing challenges. It forecasts growth across the region’s developing economies of 4.8% this year and in 2024, up from 4.2% in 2022.

To gain insight on financial, strategic, and operational trends, issues, and agenda items across the semiconductor industry, KPMG conducted a survey of C-level executives from the world’s largest semiconductor companies.

As countries worldwide are still recovering from the repercussions of the COVID-19 pandemic, the war in Ukraine is expected to result in severe implications for the global economy. Gulf Cooperation Council countries will profit from oil price hikes caused by the war in Ukraine. All other Arab countries are expected to grow at a slower pace than pre-crisis projections.

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