SCB EIC forecasts that the CLMV economy will continue to expand in 2024, driven by the recovery of exports and tourism, which will support improved adjustments through the labor market recovery.
Key Takeaways
- The economies of CLMV countries are expected to expand in 2024, driven by the recovery of exports, tourism, and labor markets, but they still face challenges such as high non-performing loan ratios and risks associated with geopolitical tensions.
- The economic recovery varies across CLMV countries, with Laos facing risks from high public debt levels and currency depreciation, while Myanmar is affected by political instability and a weakened external sector.
- Trade and investment between Thailand and CLMV countries are expected to improve in 2024, supported by global trade recovery and improved economic conditions, but the pace of recovery will depend on the stability of the economies…
