Vietnam’s current account surplus is expected to increase to 1.5% of GDP in 2023 and further to 2.0% in 2024, driven by a rebound in global demand and weakened domestic economy keeping import demand low. The surplus widened significantly in Q2 2023 to 7.6% of GDP. Key View We have revised upwards our 2023 current […]
Fitch Solutions predicts 1.0% growth for North Korea in 2022 and 2023, relying on increased trade with China. The country’s economy has suffered from the lack of a vaccination program, making it vulnerable to isolation. Key View We at Fitch Solutions expect North Korea to grow by 1.0% in 2022 and 1.0% in 2023 following […]
Indonesia’s fuel demand growth is expected to slow as the government aims to reduce reliance on fossil fuels, resulting in slower growth rates for transport fuels. Key View Indonesia’s long-term fuel demand growth is expected to slow as the government seeks to diversify away from fossil fuels. Demand for transport fuels showed slower growth rates […]
Household spending growth will slow as macroeconomic headwinds weigh on households. High frequency data shows a recovery in retail sales and consumer confidence, but inflation is high, forcing consumers to tighten their wallets. If inflation remains elevated, it will affect consumer spending in 2024. Key View: Household spending growth will slow over 2023, as macroeconomic headwinds […]
Cambodia’s real GDP growth is predicted to be 5.8% in 2023 due to a recovery in tourism. Inflation should ease and fiscal policy will support consumption and investment, although export growth may slow. Potential risks include slower growth in Mainland China affecting tourism and investment. Key View We forecast real GDP growth of 5.8% in […]
The Indian government has set high goals for expanding transport infrastructure, and we predict that the country’s construction industry in this sector will grow by 6.4% on average. Key View The government has set ambitious targets for the expansion of the transport infrastructure. We forecast that India’s transport infrastructure construction industry will grow by an […]
India’s real GDP growth reached 7.8% in Q2 2023 but is expected to slow due to factors such as a weak monsoon, tight credit conditions, and sluggish global demand. Overall, economic growth is forecasted to decrease from 7.2% in FY2022 to 6.3% in FY2023. Key View The acceleration in India’s real GDP growth to 7.8% […]
In 2023, total EV sales in Indonesia are expected to increase by 69.1% to 17,500 units, with battery electric vehicles leading the growth due to more companies introducing fully electric models. The demand will be driven by a VAT reduction and it is predicted that the EV penetration rate will be 1.6% in 2023 and […]
