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The Asia-Pacific region's economy is projected to expand 3.1% this year before dropping to 2.9% growth in 2024 as downside risks continue to pressure recovery, according to an analysis from an Asia-Pacific Economic Cooperation (Apec) research unit.
APEC Illustration for inflation. People buy food amid inflation and rising food prices in Thailand. (ANTARA/HO-APEC Secretariat) JAKARTA - Economic growth in the Asia-Pacific Economic Cooperation (APEC) region is expected to slow down this year amid soaring inflation, a protracted war in Ukraine, and heightened uncertainties, according to a new report by the APEC Policy Support Unit. On top of that, the continuing impact of the pandemic and virus mutations are draining resources in the region, the report said, as noted in a release issued by the APEC Secretariat and received here on Friday. Th...
APEC illustration for trade activity. (Antara/HO-APEC Secretariat) JAKARTA - The Asia-Pacific Economic Cooperation (APEC) region, home to half of the world's trade, posted double-digit growth both in trade volume and value during the January-September 2021 period, according to an update of the APEC Policy Support Unit report. The volume of APEC's merchandise exports and imports increased by 14 percent and 16 percent respectively as compared to the same period last year, when these were in the negative zone, said a written statement issued by the APEC Policy Support Unit and received he...