APEC's GDP projected to grow 6.3% in 2021 as vaccines buoy optimism

Politics Economy Society

The combined gross domestic product of the 21 member economies of the Asia-Pacific Economic Cooperation is expected to grow 6.3 percent this year, turning around from a 1.9 percent decline in 2020 as they gradually reopen while COVID-19 vaccines fan optimism, an APEC report showed. The organization's Policy Support Unit said GDP is pushed up by "pent-up demand unleashed following a year of subdued spending," but cited an "uneven recovery" largely due to "differences in vaccine access and availability" in the region. The unit forecast the region's growth will persist in 2022 and 2023 but at a m...

Kyodo News

Kyodo News Society Asia