China’s economy is expected to continue to recover, returning to its trend trajectory in 2024.
Cambodia’s economy is expected to continue its gradual recovery path.
The Philippines’ economic recovery is expected to remain robust amid high inflation and weaker external demand.
Thailand's economy is expected to grow by 3.5 percent in 2023 and 3.9 percent in 2024, driven by the continued recovery in tourist arrivals and resilient domestic demand, and supported by improvement in exports.
Lao PDR’s economic growth is projected to accelerate to 4.8 percent in 2023 from 4.4 percent in 2022, bolstered by the service sector.
Weighed down by a weakening global economy, the Singapore economy is expected to grow at a moderate pace in 2023.
The Malaysian economy rebounded strongly in 2022 driven by a strong recovery in domestic demand and robust export growth.
Brunei Darussalam is expected to record a negative growth of 1.2 percent in 2022. The weak growth in 2022 mainly reflects the unexpected downturn in the upstream O&G production in H1 2022.
The Indonesian economy grew solidly by 5.3 percent in 2022, led by strong rebound in domestic demand as consumer and business confidence was sustained, and by robust exports.
The Korean economy has recovered strongly from the pandemic, led by robust export growth and a strong rebound in private consumption. However, inflation remains elevated and the economic outlook in the near term has deteriorated amid tighter financial conditions and weakening external demand.