Southeast Asian GDP Negative Continued Impact on Japanese Companies Prolonged Concerns

Southeast Asian GDP Negative Continued Impact on Japanese Companies Prolonged Concerns November 17, 6:13

Due to the serious impact of the new coronavirus on tourism and consumption, the growth rate of GDP = gross domestic product from July to September in major Southeast Asian countries has been negative one after another, and Japanese companies are expanding into the market. There is concern that the impact on corporate performance will be prolonged.

As announced by major Southeast Asian countries, the growth rate of GDP from July to September was minus 3.4% in Indonesia, which has the largest economy, compared to the same period last year, the second consecutive quarter of minus. ..

In Indonesia, the spread of the new coronavirus continued, and consumption fell temporarily due to the tightening of restrictions on economic activities.

In addition, the Philippines was minus 11.5%,

Singapore was minus 7.0%, and

Thailand was minus 6.4%

compared to the same period last year

, all of which were minus for the third consecutive quarter.

Of these, Singapore and Thailand have relatively suppressed the spread of infection, but have restricted the movement of people to foreign countries, which continues to have a serious impact on the tourism industry.

In each country, the extent of deterioration has narrowed compared to the record negative GDP from April to June, but the economic downturn continues, and the performance of many Japanese companies expanding into the local market is affected. There is concern that the impact will be prolonged.