Asia-Pacific Economic Tracker— What Lies Beyond the Pandemic?
COVID-19 outbreak to weigh severely on demand
Economies in Asia-Pacific are likely to experience sluggish growth in 2020 on account of the unexpected ramifications of the COVID-19 outbreak. Regional growth is likely to remain stunted in H1 2020 due to the outbreak, but expected to pick up in H2 2020 as the lockdowns and travel bans are expected to be lifted.
Key economies like Australia and South Korea are likely to slow down due to a severe contraction in domestic demand and restricted trade activities in the first half, with economic recovery expected in H2 2020. Sri Lanka, Nepal, and South Korea are poised to see increased inflationary pressure in 2020. The regional unemployment level is likely to reduce marginally from 3.4% in 2019 to 3.3% in 2020. Overall, the economic outlook for the APAC region remains uncertain due to the COVID-19 outbreak.
Country Coverage: Asia-Pacific
• Sri Lanka
• South Korea
Sector Coverage: Economic indicators, demographics, energy, manufacturing, food and beverages, chemicals, pharmaceuticals, plastics, mining, electricity, construction, agriculture, healthcare, information and communication technologies.
Indicator Coverage: Gross Domestic Product (GDP) and its components, GDP growth, export and import, foreign direct investment, inflation, business confidence, population and demographics, index of industrial production (IIP), value-add by industry, trade by industry, IIP by industry, production of important commodities, oil production and consumption, oil export and import, renewable energy, emissions, coal production and consumption, healthcare spending, Internet and mobile subscription, and regional GDP growth calculation.