ASEAN+3 Macroeconomic Research Office

Regional Knowledge Hub

ASEAN+3 Finance Process

About Us
Established in 2011 by ASEAN+3 Finance Ministers, the ASEAN+3 Macroeconomic Research Office (AMRO) is an international organization that aims to contribute to the macroeconomic and financial resilience and stability in the ASEAN+3 region. Read more

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Regional Knowledge Hub

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AMRO’s publications aim to identify risks to economic growth and stability and to prescribe policies to address those risks. Read more

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Get the latest updates on ASEAN+3 macroeconomic and financial developments and learn more about AMRO's activities Read more

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AMRO’s member economies comprise the 10 member states of the Association of Southeast Asian Nations (ASEAN), and China; Hong Kong, China; Japan; and Korea. Read more

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Work with AMRO to contribute to the macroeconomic and financial resilience and stability of the ASEAN+3 region. Read more

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Regional Knowledge Hub
ASEAN+3 Finance Process

ASEAN+3 Regional Economic Outlook

Quarterly Update of the ASEAN+3 Regional Economic Outlook (AREO) – January 2025

January 2025

January 21, 2025

ASEAN+3 Economies to Sustain Growth at 4.2% in 2025 Despite Rising Headwinds from Escalating Trade Tensions

In the January 2025 update of the AREO, AMRO forecasts the ASEAN+3 region to grow at 4.2 percent in 2025. While firm domestic demand and exports growth are expected to underpin regional growth, escalating trade tensions, including higher tariffs, may dampen external demand.

Download Full Report Read the Press Release

The ASEAN+3 region is on track to achieve a full-year growth of 4.2 percent in 2024, consistent with AMRO’s projection from October 2024. Growth in several ASEAN economies offset marginally weaker-than-expected performance in the Plus-3 economies (China; Hong Kong, China; Japan; and Korea).

Meanwhile, headline inflation in the region moderated to 1.7 percent, returning to pre-pandemic levels as global energy and transport prices eased toward the end of 2024.