ASEAN+3 Growth Momentum to Remain Intact as Risks Recede

In the July 2023 update of the AREO, AMRO projects the ASEAN+3 region to grow by 4.6 percent in 2023, up from 3.2 percent in 2022. Although the ongoing weakness in global trade has prompted a slight reduction in the ASEAN growth forecast for 2023 to 4.5 percent from April’s projection of 4.9 percent, this will be offset by improving prospects in the Plus-3 economies.