China’s economy should recover steadily in 2024, supported by well-calibrated and targeted monetary, financial, and fiscal policies.
Korea’s near-term growth outlook is expected to continue improving, reflecting the upturn in manufacturing exports, especially semiconductors.
Indonesia’s economic growth continued to perform robustly, led by resilient domestic consumption and strengthening investment.
Cambodia’s economy is projected to grow by 5.3 percent in 2023 and 6.2 percent in 2024, continuing its gradual recovery.
Brunei’s economic recovery is underway with the non-oil & gas sector continuing to show positive performance driven by the services sector, reflecting robust activities in the finance and transport subsectors.
The Philippines’ economic recovery is expected to remain robust amid high inflation and weaker external demand.
The Japanese economy is projected to grow by 1.9 percent in 2023 and 1.1 percent in 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.
The Lao PDR’s economy is expected to maintain its recovery from the COVID-19-pandemic in 2023. However, currency depreciation and surging inflation are challenges to sustaining the economic recovery.
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.