KUALA LUMPUR: The Asia-Pacific Economic Cooperation economies are expected to continue to grow but at a moderate pace, reflecting uncertainties stemming from trade protectionism, persistent inflationary pressures and geopolitical tensions.
The report noted that in 2023, APEC's gross domestic product expanded by 3.5 per cent, outpacing the global GDP growth of 3.2 per cent. The expansion was driven by robust household spending amid high consumer confidence, government spending, a healthy services sector, and especially the solid recovery of travel and tourism.
Another development to watch is the extended drought and increased maritime risks observed at the Panama and Suez canals.
Asia-Pacific Economic Cooperation APEC GDP Inflation Carlos Kuriyama Policy Support Unit Glacer Niño A Vasquez
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