Watch: ASEAN+3 Regional Economic Outlook – July 2024 Update
ASEAN+3 growth momentum is steady on export recovery and solid domestic demand. AMRO's Marthe Hinojales discusses AMRO's latest growth outlook for the region and key risks to look out for.
ASEAN+3 growth momentum is steady on export recovery and solid domestic demand. AMRO's Marthe Hinojales discusses AMRO's latest growth outlook for the region and key risks to look out for.
Brunei’s economy expanded by 1.4 percent in 2023, and growth is expected to strengthen to 2.7 percent this year.
Brunei’s economy is expected to strengthen further this year after a strong recovery in 2023, mainly supported by robust activities in the non-oil & gas sector.
The near-term outlook for the Korean economy has improved, supported by the recovery of exports, and inflation is expected to decline further toward the target.
Korea's economy is forecast to rebound to an above-potential rate of 2.3 percent in 2024, supported by continued strengthening in goods exports, especially semiconductors.
Vietnam’s economy is expected to strengthen to 6.0 percent growth in 2024 from 5.1 percent growth in 2023.
The ASEAN region is expected to benefit from a combination of these favorable factors, with growth in 2024 and 2025 forecast at 4.8 and 4.9 percent, respectively while growth in the Plus-3 region is expected to remain robust at 4.3 and 4.1 percent, respectively.
The Indonesian economy expanded by 5.0 percent in 2023 and is projected to strengthen to 5.2 percent in 2024.
The Japanese economy is forecast to grow at a steady pace of 1.1 percent in 2024 after a strong recovery of 1.9 percent in 2023.
Following a contraction in 2022, Hong Kong’s economy rebounded to record 3.2 percent growth in 2023.