Macroeconomics

19 Dec 2019  |  Asia Pacific  |  Market Research

The Application of Blockchain in Southeast Asian Countries, Forecast to 2023

Blockchain Market is Projected to Grow at a CAGR of 81% Globally from 2018 to 2023

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Key Issues Addressed

Blockchain, which is a decentralized digital database, supports participants when they confirm their transactions without the need for a central authority to approve/accept the transaction. Although this technology has been recognized mainly by digital currencies such as Bitcoin and other cryptocurrencies, it has several other applications in diffe...

China’s swift economic growth and plans such as “Made in China 2025” have raised its competition with the United States. This situation has led to the US-China trade war with the United States imposing trade tariffs on Chinese products and China retaliating by imposing tariffs on US products. The trade war is slowing down the global economic ...

The economic growth in the Asia-Pacific region experienced a slowdown due to increasing global trade tensions in the second quarter of 2019. Key economies in the region such as China, India, and Thailand have experienced slower than anticipated growth rates, in line with global economic slowdown. In H2 2019, inflationary pressure in the region rema...

Indonesia is the most populous nation in Southeast Asia with an estimated population of 262 million in 2017. The Indonesian economy, measured in terms of GDP, is the largest in SEA as of 2017. Indonesia’s GDP annual growth stood at 8.4% for 2017 growing from $932.45 billion in 2016 to $1,010.94 billion in 2017. Indonesia’s GDP per capita at cur...

Economic growth in the Asia-Pacific region slumped from 5.2% in Q4 2017 to 5.0% in Q1 2018, as the escalation of the trade war between China and the United States had repercussions for global trade growth. China’s growth is likely to slump further from the 6.2% registered in Q2 2018, as manufacturing output started declining in Q2 2018. Australia...

In Q3 2018, regional growth in the Asia-Pacific region remained stagnated at 4.6% with growth expected to remain low during the forecast period. In Australia, GDP growth increased from 2.4% in 2017 to 2.9% in 2018, largely due to increase in business investment and private consumption. Sri Lanka is expected to register 2.9% in Q3 2018, slower than ...

Malaysia is striving to become to a developed nation by 2020, and in line with this, the Economic Transformation Programme (ETP), launched in 2010, aims to help Malaysia attain the status of a high-income nation by 2020. The ETP is expected to attract investments worth $444 billion during 2010–2020. Despite the anticipated negative effects of wea...

Vietnam's GDP growth declined in 2012. Government efforts to revive growth include increased lending and implementation of reforms. Vietnam has set a target of becoming an industrialized nation by 2020. Manufacturing, and information and communication technology (ICT) sectors are expected to play a key role in Vietnam’s transition to an industria...

Indonesia is witnessing a growing middle class population, which shielded the economy during the global economic downturn. Growth stood at 6.2% in 2012. The country has, however, been witnessing a deteriorating trade deficit and sliding rupiah since 2012, and a tight monetary policy has been pursued in 2013 to correct these factors and put Indonesi...