In particular, goods export growth for the Asean-6, referring to Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam, is likely to cool in 2023 after a relatively stellar performance in 2022.
The economists at DBS Group Research, Chua Han Teng, Radhika Rao and Irvin Seah are expecting a weaker global growth outlook and rising external headwinds to dampen Asean’s growth prospects via the trade and exports channel.
Economies that are highly dependent on trade such as Singapore, Vietnam, Malaysia and Thailand are likely to be more impacted, they add in their outlook report dated Dec 13.
