World trade is staging an impressive recovery and so are ASEAN’s exports. We forecast exports will make a positive contribution to headline growth for all ASEAN-6 economies this year after a sharp fall in 2020. In aggregate, we estimate exports will boost ASEAN-6 GDP growth by 6.6ppts in 2021, after subtracting 4.9ppts in 2020. However, the gains won’t be equally shared among the economies due to differences in the composition of their exports, trading partners, and manufacturing competitiveness.
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Topics: Asia, Global trade, Recovery Tracker, GDP, Asia Pacific, ASEAN, South East Asia, SEA, Philippines, Indonesia, Singapore, APAC, Asian Economy, Exports, Inflation risks, Vietnam, Economic recovery, Thailand, Malaysia