GDP of APEC economies forecast to expand 3.8 percent in 2017-2018

BY  | FROM  | 2017-05-17 15:36

The gross domestic product (GDP) of the Asia-Pacific Economic Cooperation (APEC) economies is forecast to expand 3.8 percent in the 2017-2018 period, higher than global growth.

The forecast was released in the latest APEC Regional Trends Analysis themed "Globalization: The Good, The Bad, and the Role of Policy" launched by APEC Policy Support Unit (PSU) here on Wednesday.

Dr. Denis Hew, director of the APEC PSU, said at the launch that in 2016, economic growth of the APEC stood at 3.5 percent, presenting a slight decrease compared to that of 3.6 percent in the previous year.

Meanwhile, in 2019, the APEC's GDP will expand 3.7 percent, staying the same compared to the global economic growth.

Participants at the launch also discussed topics like assessment of trade and globalization issues in Vietnam and across the APEC region, as well as new APEC trade and growth forecast, and policy implications.

APEC economies account for some three billion people, half of global trade and 60 percent of world GDP.

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