Until the end of 2019, the Southeast Asian region had registered robust economic growth despite global uncertainties. However, the COVID-19 pandemic has drastically changed the economic outlook for all countries.
Although the pandemic has pummeled the region's economies, ADB's Asian Development Outlook 2020 Update has projected that all Southeast Asian economies are expected to grow more strongly in 2021 with domestic stimulus and global recovery. For 2021, ADB revised up its forecast by nearly 1 point to 5.5% growth.
ADB's Developing Member Countries in Southeast Asia include: Brunei Darussalam, Cambodia, Indonesia, Lao People's Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Timor-Leste, and Viet Nam.