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Economy

Asia-Pacific growth tipped to flatline at 3.3% beyond 2020

Export recovery to be led by Vietnam and other Southeast Asian economies

SINGAPORE -- Economic growth in the Asia-Pacific region is expected to decline to 3.3% this year and to remain at this level until 2024, a drop from the 3.8% recorded in 2017 and 2018, according to a report released on Friday by the Pacific Economic Cooperation Council.

The not-for-profit official observer of the Asia-Pacific Economic Cooperation forum is not affiliated with any government. It said a slowdown in the external sector is a major concern, with export growth in the region projected to dip sharply from 4% in 2018 to 0.9% this year, before rebounding to 3% in 2020.

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