Fueled by strong domestic purchasing power and booming exports, Indonesia’s GDP continue to outpace the previous year with 5.31% YoY growth, similar to the World Bank and IMF’s forecasts at 5.2% and 5.3% respectively. However, commodity prices’ bleak prediction and an expected economic downturn still casts an uncertain future in 2023.
China’s GDP slowed to 2.9% (YoY) in Q4 2022
China’s economy experienced ups and downs in 2022 due to the unstable Covid policy. The economy grew by 2.9% (YoY) in the fourth quarter. Looking back at the full year, China’s GDP grew by 3% in 2022, lower than the general expectation of 5.5% for the year.
Vietnam’s GDP grew at a rate of 8% in 2022, the highest in 11 years
Vietnam’s GDP rose by 8% in 2022, the highest in 11 years. However, relatively low growth in December and a slowdown in the manufacturing sector indicate challenges in 2023.
Indonesia’s GDP grew by 5.72% in Q3, further recovering from last year’s downturn
Indonesia continues to record GDP growth in the July – September period, again beating previous quarters. Yet growth is slightly below forecasted, and future outlook is uncertain.
China’s GDP grew by 3.9% (YoY) in Q3 2022
Aided by various government measures, especially the easing of COVID-19 restrictions, China’s GDP advanced 3.9% year-on-year in Q3 2022, surpassing the market forecast of 3.4% and rising from the GDP growth of 0.4% in the previous quarter.
Vietnam’s GDP grew 13.67% (YoY) in the third quarter of 2022
Vietnam’s GDP grew at 13.67% (YoY) in the third quarter of 2022, largely helped by a rebound in the manufacturing sector and a low base effect.
Indonesia’s GDP grew 5.44% (YoY) in Q2, beating analysts’ expectations
Beating the forecasted 5.17% growth, Indonesia’s GDP grew by 5.44% in the second quarter of the year, the fastest increase in four quarters. Meanwhile, compared with the first quarter of the year, the second quarter showed even greater growth, highlighting the trend of the economic recovery in Indonesia.
China’s GDP slowed sharply to 0.4% (YoY) in Q2 following lockdowns and global inflation
China’s GDP declined sharply in Q2 to 0.4% (YoY). Apart from the first quarter of 2020 during the initial covid outbreak, this quarter registered the slowest growth since the data series first started in 1992. The decline can primarily be attributed to the aftermaths of widespread lockdowns imposed under March and April.
Vietnam’s GDP grew 7.72% (YoY) in the second quarter of 2022, the highest in 10 years
Vietnam’s GDP grew at 7.72% (YoY) in the second quarter of 2022, the highest rate for the same quarter since 2011. The significant growth was driven by accelerating manufacturing activity and a recovery in service output.
Indonesia’s GDP grows 5.01% in Q1 2022, fueled by a boom in exports
Indonesia’s economic growth remained stable in Q1 2022, as COVID-19 restrictions were further loosened. The recovery in consumption, investment, and exports contributed to the growth in the quarter.
