ECONOMIC AFFAIRSAsia News Network

Hong Kong economy snaps two-year decline, grows 6.4% in 2021

Hong Kong’s GDP expanded by 4.8 percent year-on-year in the fourth quarter of 2021, representing a further recovery.

Farmers are becoming wealthier as improved logistics convenience boosts sales of agricultural produce.

The average per-tonne selling price of latex in 2021 was $1,666 per tonne, rising by $284 or 21 per cent over a year earlier.

Indonesia’s revision for GDP growth is in line with a worldwide trend as the IMF reduced its forecast for global growth for 2022.

The South Korean economy grew 4 percent last year from a year earlier, the fastest growth in 11 years.

Experts said the US-China trade war and the Covid-19 pandemic have pushed companies to diversify supply chains outside of China.

The nation is also confident about the stable operation of foreign trade, despite facing uncertainties in both demand and supply.

The agreement is Singapore's first direct FTA with the Pacific Alliance, a bloc with a combined GDP of more than $2.6 trillion.

The central government collected about 9.15 trillion yuan in revenue, up 10.5 percent year-on-year.

Indonesian banks have adopted technology by creating digital solutions to maintain loyalty or even to propel and gain market share.