APEC economies grow 6.1 percent in Q1

The Asia-Pacific Economic Cooperation (APEC) region posted a 6.1-percent increase in economic growth in the first quarter of 2021, bouncing back strongly from a 2-percent decline in the first quarter of 2020, according to an updated report by the APEC Policy Support Unit.
APEC economies grow 6.1 percent in Q1 ảnh 1Illustrative image (Photo: AFP/VNA)
Hanoi (VNA) - The Asia-Pacific Economic Cooperation (APEC)region posted a 6.1-percent increase in economic growth in the first quarter of2021, bouncing back strongly from a 2-percent decline in the first quarter of2020, according to an updated report by the APEC Policy Support Unit.

The number shows the region is on track to achieve growthexpectations for the year, which is now estimated at 6.4 percent, slightlyhigher than the earlier prediction.

The high growth in the first quarter of 2021 is attributable to a combination offactors, including the low comparison point following substantial economiccontraction a year ago, as well as higher government spending given thesustained impact of the pandemic on economic activities, while domesticconsumption grew considerably during this period, the report said.

In the near term, the APEC Policy Support Unit still sees sustainedstimulus measures from governments driving the region's economic growth.Private consumption will also get a boost of confidence as consumers areexpected to draw on their accumulated savings, bolstered in part due to cashtransfers and wide-ranging subsidies to households.

"Vaccination programs and rollout still drive economic growth andthe recovery progress in the region," said Denis Hew, Director of the APECPolicy Support Unit. He said there were disparity in access to vaccinationcoverage across APEC and economies with faster rollouts and sustained fiscal supportwill recover faster and stronger, while economies that struggle with vaccineaccess and have limited fiscal space will take more time to recover due tothese uncertainties.

In terms of trade, the region performed positively in thefirst quarter of 2021, with the value of merchandise exports and importsgrowing at a higher rate of 16.8 percent and 16.2 percent, respectively, from acontraction of 6.1 for exports and 4.1 percent for imports during the sameperiod last year.

The updated report noted that the impact of COVID-19 on the transport and travel sectors continues to drag APEC'scommercial services performance. For the period January to March 2021,commercial services declined further to 12 percent for exports and 15.2 percentfor imports, compared to a decline of 9.5 percent for exports and 9.2 percentfor imports for the same period in 2020./.
VNA

See more

Malaysian Deputy Prime Minister Datuk Seri Fadillah Yusof (Photo: Bernama)

Malaysia accelerates clean energy transition

Delivering a speech at the Clean Energy Transition Asia (CETA) Summit 2025 in Kuala Lumpur, Fadillah, who is also the energy transition and water transformation minister, said that the Southeast Asian region now drives more than half of the global energy demand.

Indonesian localities extend state of emergency amid natural disasters

Indonesian localities extend state of emergency amid natural disasters

As disaster-related losses continue to rise, authorities in the affected provinces have decided to extend the state of emergency to ensure resources and legal mechanisms for response efforts. West Sumatra extended it to December 22, North Sumatra to December 24, and Aceh to December 25.

Malaysian Deputy Prime Minister Datuk Seri Fadillah Yusof delivers his opening keynote address at the Global AI, Digital and Green Economy Summit 2025 in Kuala Lumpur, December 15, 2025. (Photo: Bernama)

Malaysia eyes AI-driven energy future

Malaysia’s direction is to focus on building a modern grid, a digital economy powered by trustworthy AI, and climate finance systems that deliver real-world decarbonisation.

Air passengers at the departure terminal of the Phnom Penh International Airport. (Photo: khmertimeskh.com)

Air travel between Cambodia, Thailand remains operational

In a statement released on his Facebook post, Hun Sen explained that his earlier message, advising the Royal Government to consider suspending cross-border travel, referred specifically to land routes, as tensions are escalating along the entire land border, with some spillover into maritime areas.

Thailand, Myanmar boost anti-drug cooperation

Thailand, Myanmar boost anti-drug cooperation

Myanmar authorities have handed over three drug-related fugitives wanted by Thailand and one Thai national who was residing illegally in Myanmar to Thai authorities, according to the Myanmar Police Force.

An aerial drone photo shows a bridge damaged by floods in Bener Meriah regency, Aceh, Indonesia, (Photo: Xinhua)

Indonesia: Over 200 people remain missing after floods, landslides

The floods and landslides that struck three provinces on Indonesia's Sumatra Island have caused damage to about 1,200 public facilities, as well as 219 health facilities, 581 educational establishments, 434 places for worship, 290 office buildings and 145 bridges.

Director General of Customs and Excise Djaka Budhi Utama (Photo: cncbindonesia.com)

Indonesia’s customs warns of emerging smuggling “hotspot”

To prevent similar smuggling activities, Indonesia’s Directorate General of Customs and Excise is conducting strict surveillance along the coast. The areas under surveillance include Belawan, Tanjung Balai Asahan, Dumai, Jambi, and the Riau Islands.

Prime Minister of Timor-Leste Kay Rala Xanana Gusmão on December 11 delivers a policy speech at the ASEAN Headquarters/ASEAN Secretariat. (Photo: VNA)

Timor Leste PM: Admission into ASEAN – a dream comes true

Prime Minister of Timor-Leste Kay Rala Xanana Gusmão emphasised that becoming a member of ASEAN is “a dream comes true" for the people of Timor Leste, affirming that joining ASEAN marked a significant turning point, helping Timor Leste move towards the future and integrate into the broader regional community.

Tourists visit Bangkok, Thailand. (Photo: Xinhua/VNA)

Foreign arrivals to Thailand down nearly 10% year-on-year

For 2026, Thailand expects 34.9 million foreign visitors, a 4% increase, earning 1.63 trillion THB in revenue, up 8% year-on-year. Total tourism revenue, including domestic travel, is forecast at 2.79 trillion THB (88 billion USD).

Thai Prime Minister Anutin Charnvirakul speaks before the Parliament in Bangkok on September 29 (Photo: XINHUA/VNA)

Thai PM dissolves parliament

Thai Prime Minister Anutin Charnvirakul on December 12 signed a decree dissolving the House of Representatives, paving the way for a new general election.

Housing and Local Government Minister Nga Kor Ming (Photo: Bernama)

Malaysia takes drastic measures to prevent illegal dumping

As of October, a total of 3,634 illegal dumping sites in Johor, Melaka, Negeri Sembilan, Pahang, Perlis, Kedah, and areas under Kuala Lumpur and Putrajaya had been shut down - the highest number recorded since the Solid Waste and Public Cleansing Management Act 2007 (Act 672) took effect.