FocusEconomics ASEAN

APAC Economic Outlook

Best to worst-performing economies 2020 - 2021

Note: FocusEconomics Consensus Forecasts average the predictions of leading banks, private forecasters and consultancies

Best performer:

Vietnam +2.7%

2020 GDP ann. var. %

Economic growth is expected to slow notably this year on weaker exports and lower tourist arrivals. However, Vietnam should still be by far the strongest performer in ASEAN, thanks in part to a rapid resumption of domestic activity. Risks to the outlook stem from a possible domestic flare-up in cases if borders are reopened, and a potentially weak recovery in external demand.

FocusEconomics Consensus Forecast panelists project the economy will expand 2.7% in 2020, which is unchanged from last month’s forecast, and 7.6% in 2021.

Source: FocusEconomics ASEAN Consensus Forecast - Aug 2020

Worst performer:

Thailand -6.3%

2020 GDP ann. var. %

This year the economy is projected to contract sharply as the pandemic suppresses household spending and heightened uncertainty hits fixed investment. Exports are expected to be hit hard from subdued external demand, while the prolonged nature of the viral outbreak amid stubbornly high global infection rates is a key risk to the outlook.

Our panel projects the economy to contract 6.3% in 2020, which is down 0.4 percentagepoints from last month’s projection, before growing 4.6% in 2021.  

Best performer:

Vietnam +2.7%

2020 GDP ann. var. %

Economic growth is expected to slow notably this year on weaker exports and lower tourist arrivals. However, Vietnam should still be by far the strongest performer in ASEAN, thanks in part to a rapid resumption of domestic activity. Risks to the outlook stem from a possible domestic flare-up in cases if borders are reopened, and a potentially weak recovery in external demand.

FocusEconomics Consensus Forecast panelists project the economy will expand 2.7% in 2020, which is unchanged from last month’s forecast, and 7.6% in 2021.

Worst performer:

Thailand -6.3%

2020 GDP ann. var. %

This year the economy is projected to contract sharply as the pandemic suppresses household spending and heightened uncertainty hits fixed investment. Exports are expected to be hit hard from subdued external demand, while the prolonged nature of the viral outbreak amid stubbornly high global infection rates is a key risk to the outlook.

Our panel projects the economy to contract 6.3% in 2020, which is down 0.4 percentagepoints from last month’s projection, before growing 4.6% in 2021.  

Best performer

Vietnam +2.7%

2020 GDP ann. var. %

Economic growth is expected to slow notably this year on weaker exports and lower tourist arrivals. However, Vietnam should still be by far the strongest performer in ASEAN, thanks in part to a rapid resumption of domestic activity. Risks to the outlook stem from a possible domestic flare-up in cases if borders are reopened, and a potentially weak recovery in external demand. 

FocusEconomics panel of leading forecasters project the economy will expand 2.7% in 2020, which is unchanged from last month’s forecast, and 7.6% in 2021.

Worst performer

Thailand -6.3%

2020 GDP ann. var. %

This year the economy is projected to contract sharply as the pandemic suppresses household spending and heightened uncertainty hits fixed investment. Exports are expected to be hit hard from subdued external demand, while the prolonged nature of the viral outbreak amid stubbornly high global infection rates is a key risk to the outlook. 

Our panel projects the economy to contract 6.3% in 2020, which is down 0.4 percentage points from last month’s projection, before growing 4.6% in 2021

FocusEconomics is a leading provider of economic consensus forecasts for 131 countries and 34 commodities. Since 1999, we have been supporting the world's leading companies and institutions with timely and reliable economic intelligence.

FocusEconomics is a leading provider of economic consensus forecasts for 131 countries and 34 commodities. Since 1999, we have been supporting the world's leading companies and institutions with timely and reliable economic intelligence.

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