Five Key Takeaways from AMRO’s July 2024 ASEAN+3 Regional Economic Outlook Update
The ASEAN+3 region is forecast to grow at 4.4 percent in 2024 and 4.3 percent in 2025, broadly unchanged from our assessment in April.
The ASEAN+3 region is forecast to grow at 4.4 percent in 2024 and 4.3 percent in 2025, broadly unchanged from our assessment in April.
After a moderation to 3.6 percent last year, Malaysia’s growth is projected to accelerate to 4.7 percent in 2024, underpinned by strong domestic demand and a pickup in external demand.
Lao PDR’s economic growth is projected to pick up to 4.5 percent in 2024 from 4.2 percent in 2023.
China’s growth is expected to come in at 5.3 percent in 2024. Consumption remains the primary growth driver, supported by greater traction in investment and a rebound in external demand.
Cambodia’s economy grew robustly by 5 percent in 2023 with tourism and supporting service activities as well as non-garment manufacturing industries as the main drivers of growth.
Watch the highlights of the ASEAN+3 Regional Economic Outlook 2024.
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.
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.
After the sharp slowdown in the first quarter of this year, Vietnam’s economic growth has picked up subsequently, with signs of increasing new orders and improving business confidence.
Weighed down by a weakening global economy, the Singapore economy is expected to grow at a moderate pace in 2023.