IMF Asia Forecast 2022
The International Monetary Fund's most recent estimates released in January 2022 predicted global growth of 4.4% in 2022 and 3.8% in 2023.
The recovery will be driven by Asia, with an aggregate growth of 6.3% (October 2021 World Economic Outlook). As for the People's Republic of China and India, growth is expected to be 4.8% and 9.0% respectively in 2022. Nonetheless, India's GDP slid by almost 7.3% in 2020 while China was the only major economy capable of remaining positive during the first year of the pandemic.
Among advanced economies on the Asian continent, Japan will see GDP increase by about 3.3% in 2022 in line with South Korea's expected 3.3% growth (October 2021 World Economic Outlook). While the largest five ASEAN economies (Indonesia, Malaysia, Philippines, Thailand, and Vietnam) are expected to grow by 5.6% in 2022.