Southeast Asia GDP data paint mixed picture https://t.co/g6x0vPpb2Y
— NHK WORLD News (@NHKWORLD_News) 2019年11月18日
Vietnam appears to be getting an economic windfall from the US-China trade war that has left other neighboring economies struggling.
Data from six major countries in Southeast Asia show that the Indonesian economy -- the largest in the region -- expanded 5.0 percent year-on-year in the July-to-September period. It's the third consecutive quarter of slowing growth.
Malaysia's economy grew 4.4 percent, down 0.5 percentage point from the previous three months. Singapore registered 0.1 percent growth, unchanged from the previous quarter.
Thailand's GDP saw a slight improvement, but remained slow at 2.4 percent.
These countries were struggling, mainly due to sluggish exports to China amid the ongoing trade war and slowing global economy.
Meanwhile, Vietnam's growth accelerated to 7.3 percent during the period, as global manufacturers were relocating their production bases from China to Vietnam.
The Philippine economy grew 6.2 percent, up 0.7 point from the previous quarter, due mainly to an increase in government spending.
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