Following record declines in 2020, we forecast strong 6.1% pa APAC GDP growth over the next two years. Nonetheless, the permanent loss in output from the pandemic will be sizable: We now project regional GDP levels to be 2.9% lower by 2025, compared to our pre-pandemic forecast. However, the extent of economic scarring – that is, permanent loss in GDP – varies significantly across the region. We forecast Taiwan GDP to be 7.6% higher than before. In contrast, India and the Philippines are the main losers, with GDP levels estimated to be more than 8% lower.
What you will learn from this report:
Topics: Asia, China, India, Australia, Global trade, Recovery Tracker, GDP, Hong Kong, Asia Pacific, Japan, ASEAN, South East Asia, SEA, Philippines, Indonesia, Singapore, APAC, Asian Economy, Exports, Inflation risks, Vietnam, Economic recovery, South Korea, Thailand, Malaysia