Economy

Vietnam’s economic growth is forecast to accelerate to 7.1% this year, before softening to 6.8% in 2019, the Asian Development Bank (ADB) said in a report released on April 11. Vietnam's economy continues to be driven by the manufacturing sector ADB Country Director for Vietnam Eric Sidgwick said that thanks to able macroeconomic management, Vietnam’s economic growth will see a spurt in 2018, and become one of the strongest performers in the Asia-Pacific region. He said that Vietnam’s robust growth will be driven by strong manufacturing and export growth, rising domestic consumption, strong investment, and an improving agricultural sector. The economy expanded by 6.8% last year and 7.38% in the first three months of 2018, its best first-quarter performance in a decade, according to official data. With such strong growth projections, Vietnam’s inflation is expected to reach 3.7% this year and 4% in 2019 as a result of rising domestic demand and global … [Read more...] about Vietnamese economy projected to grow 7.1 percent in 2018: ADB report

Thailand’s economy saw upbeat signs in the first quarter of this year with export turnover surpassing US$62.8 billion, up 11.3 percent year-on-year. Illustrative image - Source: thailand-business-news.com According to the latest statistics released by the Thai Commerce Ministry, the country’s exports fetched over US$22.36 billion in March, an increase of 7.1 percent compared to the same period last year. Its major export markets included the US, India and Southeast Asian nations. Commodities with high export growth were computer, petrol, plastic products and electronic chips. Theo VNA … [Read more...] about Thai economy sees upbeat signs in first quarter

The mining sector's contribution to the Lao economy will continue to drop over the coming years, according to an update on domestic economic prospects in 2018 and beyond of the Lao National Economic Research Institute. The output of the mining industry, one of the main contributing sectors to the economy, has witnessed a continued decline. Theo VNA … [Read more...] about Laos: Mining sector’s contribution to economy declines

Japan's economy shrank for the first time in two years in the first quarter of the year amid weak consumption, official data showed last week. Passersby moving on a concourse in an underground shopping district in Tokyo - Photo by AFP The world's third-largest economy contracted by 0.2 percent quarter-on-quarter in the January-March period, compared with growth of 0.1 percent at the end of 2017, the Cabinet Office said. Private consumption was flat after an uptick of 0.2 percent in the final quarter of last year. Private residential investment plunged another 2.1 percent after a 2.7 percent fall in the previous quarter. "It is certain that the heavy snowfall in January and February and rises in fresh vegetable prices reduced disposable income but still (private consumption) is weak," said SMBC Nikko Securities chief market economist Yoshimasa Maruyama. Consumers will keep purse strings tight "unless the pace of wage increases shows a clear acceleration", he said in a … [Read more...] about Japan economy shrinks after two years of growth

Slow disbursement of public investment has left Thailand plodding behind faster-growing Southeast Asian economies, according to a study by University of the Thai Chamber of Commerce. Slow disbursement of public investment has left Thailand plodding behind faster-growing Southeast Asian economies - Photo: The Straits Times The situation was attributed to difficulties in spending facing state agencies because of Government regulations. Theo VNA … [Read more...] about Thai economy faces risk due to long lasting public projects