World Bank Trims East Asian Growth for 2024 on Softer Trade, Debt Risks

Over the past 12 months, exports have eased considerably from China, Indonesia, Malaysia, and Vietnam.

A participant listens during the International Monetary Fund—World Bank Annual Meeting in Nusa Dua, Bali, Indonesia on Oct. 12, 2018. Johannes P. Christo/Reuters

Economic growth in East Asia and the Pacific is expected to be the weakest in decades next year, according to a new report from the World Bank.

In its semi-annual economic outlook for the region, the institution estimates that growth in developing East Asia and the Pacific is projected to be 5 percent in 2023, higher than the average growth rate expected in other emerging markets and developing economies but unchanged from the initial estimate.