While the ASEAN+3 region will remain a major driver of global growth in the next decade, it also faces a multitude of structural challenges. Three secular trends—aging, global trade reconfiguration, and rapid technological change—are affecting the region in complex ways that make its long-term growth trajectory less certain.
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.
Download presentation by AMRO Chief Economist Hoe Ee Khor on the ASEAN+3 Regional Economic Outlook 2024.
Watch the highlights of AMRO's 2023 Annual Consultation Report on Indonesia.
The Indonesian economy expanded by 5.0 percent in 2023 and is projected to strengthen to 5.2 percent in 2024.
Indonesia’s economy continued to perform robustly, led by resilient domestic consumption and strengthening investment.
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.
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.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.
The Philippine economy has witnessed a robust performance over the past few years. However, such performance was accompanied by high inflation which became the main issue of concern.
