Asia growth slows on commodities, Covid and rising interest rates

Shipping-and-trade-ADB.jpg

Economic growth in Asia and the Pacific is poised to slow more than previously estimated this year amid headwinds from the war in Ukraine, a resurgent pandemic, and tightening global financial conditions, the International Monetary Fund (IMF) said. “Regional gross domestic product will expand by 4.9 percent, 0.5 percentage points less than we forecast in […]

Read more

Developing Asia economies set to grow 5.2% this year amid global uncertainty

ASIA-GDP.jpeg

Developing Asia’s economies are forecast to grow 5.2% this year and 5.3% in 2023, thanks to a robust recovery in domestic demand and continued expansion in exports. However, uncertainties stemming from the Russian invasion of Ukraine, the continuing coronavirus disease (COVID-19) pandemic, and tightening by the United States Federal Reserve pose risks to the outlook. […]

Read more

High commodity prices a challenge for most Asian countries

andy-li-CpsTAUPoScw-unsplash-scaled.jpg

Credit buffers among APAC nations to withstand risks from high commodity prices are generally strong, but have been eroded during Covid-19, Fitch Ratings said in a report. “The impact of energy-market turmoil following the Russia/Ukraine conflict differs significantly per sovereign, but on the whole is likely to be a headwind for the region. Risks are […]

Read more

Asia to account for more than half of global petrochemical capacity additions by 2030: Global Data

Asia is expected to lead the global petrochemical industry capacity growth from new-build and expansion projects by 2030 with 57% share, according to GlobalData, a leading data and analytics company. GlobalData’s report ‘Global Petrochemicals Capacity and Capital Expenditure Outlook, 2021 – 2030 – Asia Leads Global Petrochemical Capacity Additions’, reveals that the total petrochemical capacity […]

Read more

Supplying Asia with LNG got much costlier for the US, but strong demand brings export records – Rystad

Supplying liquefied natural gas to the growing (LNG) Asian market has become more expensive for US producers this year, Rystad Energy said in report, adding that even so, US exporters are unlikely to repeat last year’s cost-related shut-ins as global demand has rebounded to strong levels. Instead, US LNG exports climbed to a record monthly […]

Read more

Outlook for natural gas and coal: World Bank Data Blog

Natural gas and coal prices have risen since the start of 2021, albeit with significant fluctuations in the first quarter. Prices have gone up by rebounding global economic activity, bouts of very cold weather in northeast Asia and the U.S., and several supply disruptions. Prices are expected to average around one-third higher in 2021 than […]

Read more