Business News Asia
Hong Kong’s economy contracted by 4.2% year-on-year in the fourth quarter of 2022, marking the fourth consecutive quarter of contraction, according to a statement from the Hong Kong government. The slump was primarily driven by the collapsed export sector, which…
The European Union’s statistical office, Eurostat, has reported that the gross domestic product (GDP) in the eurozone rose by 0.1% in the fourth quarter of 2022. This follows a growth of 0.3% in the third quarter. On a yearly basis,…
The National Statistical Office (Insee) of France has reported that the country’s economy saw a marginal growth in the fourth quarter of 2022. The growth was attributed to a decline in energy imports and a boost in business investment, which…
The Central Bank of Ukraine has lowered its forecast for this year’s gross domestic product (GDP) to 0.3%, down from its previous projection of 4.0%. The bank cited the country’s ongoing energy crisis and prolonged security risks as the main…
Spain’s Gross Domestic Product (GDP) has seen a remarkable increase, growing by 5.5% in 2022, as reported by the Spanish National Statistical Institute (INE). The growth was driven by a faster-than-expected GDP expansion of 0.2% in the fourth quarter of…
The Philippine National Statistics Office (PSA) has announced that the country’s gross domestic product (GDP) grew by 7.2% in the fourth quarter of 2022. This growth rate exceeded analysts’ expectations of 6.5% and marks an increase from the 7.6% growth…
South Korea’s economy contracted for the first time in two and a half years in the fourth quarter of 2022, according to the Bank of Korea (BOK). The decline was due to a decrease in post-COVID-19 spending and a drop…
Analysts predict that South Korea’s export-reliant economy will contract in the fourth quarter of 2022, its worst performance in two and a half years, as declining external demand and rising interest rates hurt consumer consumption and private sector activity. Economists…
The Taiwan Bureau of Statistics has released data that Taiwan’s gross domestic product (GDP) contracted by 0.86% in the fourth quarter of 2022 from the same period a year earlier. This compares to a 4.01% growth in the third quarter…
Taiwan’s economy is likely to grow at a much slower Taiwan’s economy is expected to grow at a much slower pace in the fourth quarter compared to the previous quarter, as global economic conditions continue to drag down demand for…
