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.
Weighed down by a weakening global economy, the Singapore economy is expected to grow at a moderate pace in 2023.
The ASEAN+3 region is forecast to grow by 4.3 percent this year, down from July’s projection of 4.6 percent.
Cambodia’s economy continues to recover solidly on the back of a strong rebound in the services sectors.
The Hong Kong economy is poised to rebound strongly this year, before moderating towards trend growth next year.
The Philippine economy maintained its robust growth momentum in the first half of 2023, following a multi-decade high growth rate of 7.6 percent in 2022.
Malaysia’s growth momentum is expected to be sustained this year by resilient domestic demand and stronger tourism recovery amid the global slowdown.
The ASEAN+3 Macroeconomic Research Office (AMRO) today unveiled its new website, as part of its efforts to implement the Strategic Direction 2030, promising greater access to its research and analysis to foster macroeconomic and financial resilience and stability in the ASEAN+3 region.
