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Southeast Asia's economies post healthy growth NHK

Southeast Asia's biggest economies have posted some impressive economic growth, but are starting to slow as the post-pandemic boom wears off.

The region's major economies have announced their GDP figures for the October-to-December period. The picture is positive as the easing of coronavirus restrictions continued to improve the situation.

Singapore's GDP grew by 2.1 percent from the same period a year earlier. That was slower than in the previous quarter. But hotels and restaurants did well as a result of an influx of tourists.

The Philippines grew by 7.2 percent and Malaysia grew by 7.0 percent. The region's largest economy, Indonesia, came in at 5.0 percent. Thailand lagged behind, at 1.4 percent.

Analysts say the region's growth rate is expected to slow this year. The International Monetary Fund expects the five biggest economies to grow by an average of 4.3 percent, below the level of last year. One reason is a slowdown in Western economies, reducing demand for exports.

Singapore and Thailand are already seeing their exports fall. Analysts are also watching economic trends in China, as the country has deep ties with Southeast Asia.
Summary
Southeast Asian economies showed growth post-pandemic but are decelerating as the boom wanes. Singapore GDP grew 2.1% QoQ, slower than before, with hotels and restaurants benefiting from tourist influx. Philippines (7.2%) and Malaysia (7.0%) also saw growth, while Indonesia was at 5.0%. Thailand
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ID: e82df516-86d6-49ad-9c9d-e36dc3edb7c1

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20230217_38/

Date: Feb. 17, 2023

Created: 2023/02/18 06:55

Updated: 2025/12/09 07:16

Last Read: 2023/02/18 06:59