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Major Southeast Asian nations post Q1 GDP growth NHK

Some of Southeast Asia's biggest economies grew in the January-to-March quarter as coronavirus-related restrictions were eased. But the impact of an economic slowdown in China remains a big concern.

Thailand's GDP grew 2.2 percent year-on-year, expanding for the second straight quarter.

Restaurant and hotel businesses rapidly recovered after the country in February eased most restrictions on foreign visitors entering Thailand.

The Philippine economy grew 8.3 percent, while both Indonesia and Malaysia saw expansion of 5.0 percent thanks to easing of restrictions on economic activity.

Major Southeast Asian countries have close economic ties with China which has seen a downturn in consumption and production largely due to lockdowns.

There is growing concern that the situation in China could have a knock-on effect on their economies. That has caused the Thai baht and the Malaysian ringgit to weaken against the US dollar.

Inflation is accelerating in Southeast Asian nations partly due to the war in Ukraine. There are fears this will also weigh on economic growth.

Many Japanese companies are doing business in Southeast Asia, and the future of the region's economies remains unpredictable.
Summary
Southeast Asian economies, including Thailand, Philippines, Indonesia, and Malaysia, experienced growth in Q1 amid eased COVID-19 restrictions. However, the economic slowdown in China, primarily due to lockdowns, is a major concern as these countries have close ties with China. This could
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ID: 628487f9-f808-4862-abd3-60abc0a80b98

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20220518_20/

Date: May 18, 2022

Created: 2022/05/18 14:45

Updated: 2025/12/09 16:15

Last Read: 2022/05/18 14:45