Export recovery, elevated interest rate to shape Apac growth - S&P Global Ratings

S&P Global said the increase in exports will lead to higher gross domestic product (GDP) growth in Malaysia, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam in 2024.

KUALA LUMPUR: Export recovery and impact from elevated interest rates as well as inflation will continue to shape Asia Pacific’s (APAC) growth across the economies this year, said S&P Global Ratings.

The credit rating agency said the export recovery, which was initially visible in northeast Asian semiconductor shipments, has expanded to other sectors and economies.