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Asia-Pacific GDP forecast to grow 3.1% in 2023

The Asia-Pacific region's economy is projected to expand 3.1% this year before dropping to 2.9% growth in 2024 as downside risks continue to pressure recovery, according to an analysis from an Asia-Pacific Economic Cooperation (Apec) research unit. ....

Rhea Hernando , World Bank , Asia Pacific Economic Cooperation , Apec Policy Support Unit ,

APEC region's growth to slow down amid uncertainties, crisis

APEC Illustration for inflation. People buy food amid inflation and rising food prices in Thailand. (ANTARA/HO-APEC Secretariat) JAKARTA - Economic growth in the Asia-Pacific Economic Cooperation (APEC) region is expected to slow down this year amid soaring inflation, a protracted war in Ukraine, and heightened uncertainties, according to a new report by the APEC Policy Support Unit. On top of that, the continuing impact of the pandemic and virus mutations are draining resources in the region, the report said, as noted in a release issued by the APEC Secretariat and received here on Friday. The APEC Policy Support Unit is currently downgrading its gross domestic product (GDP) growth projection for the APEC region to 2.5 percent in 2022, which is lower than its earlier projection of 3.2 percent. The growth forecast for next year has also been downgraded, from 3.4 percent to 2.6 percent. "The expected economic moderation in APEC is in line with lower projections for the global econo ....

Jakarta Raya , Rhea Hernando , International Monetary Fund , Asia Pacific Economic Cooperation , Support Unit , Policy Support , Support Unit Denis Hew , Apec Illustration For Inflation People Buy Food Amid And Rising Prices In Thailand Antara Ho Secretariat Jakarta Economic Growth The Asia Pacific Cooperation Region Is Expected To Slow Down This Year Soaring , A Protracted War In Ukraine , Nd Heightened Uncertainties , Ccording Toa New Report By The Apec Policy Support Unit On Top Of That , He Continuing Impact Of The Pandemic And Virus Mutations Are Draining Resources In Region , He Report Said , S Noted Ina Release Issued By The Apec Secretariat And Received Here On Friday Policy Support Unit Is Currently Downgrading Its Gross Domestic Product Gdp Growth Projection For Region To 2 5 Percent In 2022 , Hich Is Lower Than Its Earlier Projection Of 3 2 Percent The Growth Forecast For Next Year Has Also Been Downgraded , Rom 3 4 Percent To 2 6 Quot The Expected Economic Moderation In Apec Is Line With Lower Projections For Global Economy Earlier This Week , E Saw The International Monetary Fund Revise Downward Its Global Gdp Forecast For 2022 To 3 2 Percent , Rom 3 6 Percent , Uot Said Rhea Hernando , A Senior Researcher With The Policy Support Unit Quot Sharp Downgrades In Economic Growth For China And Us , Long With An Expected Contraction In Russia , Eighed On The Apec Region 39s Prospects , Uot She Said Global Food And Energy Prices Increased By 23 Percent 60 Respectively In June As Compared Toa Year Ago , Ontributing Toa Surge In Inflation Across The Apec Region Of 5 4 Percent For Period From January To June This Year Is Highest Rate That Has Seen Since 2008 When It Hit 6 At Height Global Financial Crisis Quot Not Only High , Ut It Is Also Becoming Broad Based , Hich Particularly Harms Poor Households And Small Businesses ,

APEC posts double-digit growth in trade despite disruptions

APEC illustration for trade activity. (Antara/HO-APEC Secretariat) JAKARTA - The Asia-Pacific Economic Cooperation (APEC) region, home to half of the world's trade, posted double-digit growth both in trade volume and value during the January-September 2021 period, according to an update of the APEC Policy Support Unit report. The volume of APEC's merchandise exports and imports increased by 14 percent and 16 percent respectively as compared to the same period last year, when these were in the negative zone, said a written statement issued by the APEC Policy Support Unit and received here on Thursday. Meanwhile, the value of merchandise trade rose to 28.2 percent for exports and 27.3 percent for imports, driven by higher costs of fuel and manufactured products. The update highlights that the reasons for this surge are the combined effect of a rebound in economic activity, marked by a spike in demand as well as a low base, since trade contracted in the last couple of years. Addin ....

Jakarta Raya , Rhea Hernando , Asia Pacific Economic Cooperation , Support Unit , Support Unit Denis Hew , Aotearoa Plan , Apec Illustration For Trade Activity Antara Ho Secretariat Jakarta The Asia Pacific Economic Cooperation Region , Ome To Half Of The World 39s Trade , Osted Double Digit Growth Both In Trade Volume And Value During The January September 2021 Period , Ccording To An Update Of The Apec Policy Support Unit Report Volume 39s Merchandise Exports And Imports Increased By 14 Percent 16 Respectively As Compared Same Period Last Year , Hen These Were In The Negative Zone , Aida Written Statement Issued By The Apec Policy Support Unit And Received Here On Thursday Meanwhile , He Value Of Merchandise Trade Rose To 28 2 Percent For Exports And 27 3 Imports , Riven By Higher Costs Of Fuel And Manufactured Products The Update Highlights That Reasons For This Surge Are Combined Effect Ofa Rebound In Economic Activity , Arked Bya Spike In Demand As Well Asa Low Base , Ince Trade Contracted In The Last Couple Of Years Adding To That , Upply Shocks Led To Higher Shipping And Storage Costs That Fed Into The Prices Of Exports Imports Apec 39s Trade Expanded Ina Broad Range Manufactured Goods , Ncluding Iron And Steel , Nd Footwear , Hile Trade In Coronavirus Disease 2019 Covid 19 Related Goods , Uch As Pharmaceuticals And Telecommunications Equipment , As Remained Strong Quot To Sustain The Recovery , Ember Economies Should Remain United In Their Response And Priorities That The Immediate Period , E Must Ensure That People Are Healthy , O That Economies Can Recover , Nd Rebuild ,