ASEAN News Brief - April 17, 2026

Vietnam: Q1 GDP Grows 7.8%, Setting a Historical Record Vietnam's economy performed brilliantly in Q1 2026, with GDP growing 7.8% year-on-year, a record high. Industry/construction grew 8.9%, and services grew 8.2%, reflecting a diversified economy no longer solely reliant on manufacturing exports.

Laos: 2026 Growth Expected to Slow to 4% Amid Inflation and Debt The ADB reported Laos' growth will slow to 4.0% in 2026. Despite tourism and electricity export recovery, global instability and heavy public debt (82% of GDP) constrain growth. Inflation is expected to rise to 9.8%.

Singapore: Tech Demand Surges, March Exports Up 15.3% Enterprise Singapore data shows non-oil domestic exports grew 15.3% in March. Driven by AI, electronics exports jumped 74%, offsetting slight declines in non-electronic sectors like pharmaceuticals.

Philippines: Offshore Casino Ban Drops Gaming Revenue 3.5% Bloomberg reports Philippine gaming revenue dropped 3.5% in 2025 to 396.1 billion pesos due to a government ban on offshore casinos. Excluding offshore operations, domestic revenue actually grew 6.4%.

Thailand: Energy Crisis Hits Economy, Foreign Capital Flees The global energy shock from the US-Iran conflict has led foreign investors to sell off Thai assets. Thailand relies heavily on Middle Eastern oil, reversing early optimism post-election.

Myanmar: Replacing Fuel Cars with EVs Amid Fuel Shortage Leader Min Aung Hlaing announced pushes for EV imports to replace old fuel cars. The government also instituted work-from-home Wednesdays to save fuel and is promoting solar water pumping for agriculture.

Malaysia: Q1 Growth 5.3% Misses Expectations Manufacturing and services slowed, resulting in a 5.3% GDP growth, lower than Bloomberg's 5.5% estimate and Q4 2025's 6.3%, indicating a deceleration in economic momentum.

Cambodia: ADB Forecasts 4.5% Growth Driven by Manufacturing The ADB expects Cambodia to grow 4.5% in 2026, supported by robust non-garment manufacturing like electronics and tires, alongside a mild agricultural recovery.

Indonesia: IMF Praises Resilience Amid Strong Domestic Demand Despite global turbulence, Bank Indonesia noted the IMF and foreign investors view Indonesia as a bright spot. Prudent fiscal policies keeping the deficit under 3% of GDP highlight its stability. 1150417

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