Skip to main content

APEC Regional Trends Analysis, February 2024

Published Date March 2024
Type of Publication Reports
Publication Under APEC Secretariat, APEC Policy Support Unit
Accessed 736
Pages 15
Download publication Download


APEC GDP is estimated to have expanded by 3.5 percent in 2023, an increase from 2.6 percent in 2022, primarily driven by consumer spending alongside a rebound in tourism and travel. Inflation slowed down to 3.8 percent in 2023, lower than the year-ago level of 5.9 percent. However, economic prospects in the near-term could be clouded by the accumulation of trade restrictions and remedies, potential spikes in commodity prices, elevated debt levels and global uncertainties. These challenges require a balanced mix of monetary and fiscal policies, underscored by the crucial role of regional cooperation in fostering an open, dynamic, resilient and peaceful Asia-Pacific community.

For more insights, please read the article APEC: Navigating Fragile Growth, Trade Slowdown and Global Challenges