IMF Says China, India to Drive About Half of 2023 Global Growth
China and India will together account for about half of global growth this year, underscoring Asia's increasing heft in the world economy, according to the International Monetary Fund (IMF).
IMF Says China, India to Drive About Half of 2023 Global Growth
The Economics of Geography

IMF Says China, India to Drive About Half of 2023 Global Growth

Photo: AFP/ NurPhoto/ Indranil Aditya
Eurasia 17/04/2023 07:12

China and India will together account for about half of global growth this year, underscoring Asia's increasing heft in the world economy, according to the International Monetary Fund (IMF).

The International Monetary Fund (IMF) said that China and India together account for about half of the global growth this year, underscoring Asia's increasing heft in the world economy, according to a report published by Bloomberg.

The Washington-based financial body is now forecasting growth in the Asia Pacific region will come in at 4.6% this year, some 0.3 percentage points higher than expected in October, and faster than the 3.8% last year — mostly due to China’s reopening. 

It estimates that the region as a whole will contribute more than 70% of global growth this year. 
Photo: AFP/ Sajjad Hussain
In a blog, Krishna Srinivasan, director of the IMF’s Asia and Pacific Department wrote, "China’s recovery is lifting activity around the region. The strongest spillovers to regional growth have been from Chinese demand for investment goods. But this time, we expect the biggest spillover effect will be from China’s increased demand for consumption goods."

We use cookies on our website. If you consent to their use, we use them to measure and analyze the use of the website.
Information and Settings

Accept