Asia

China’s industrial output rises 5.3 percent in June, slows on weak domestic demand

Retail sales rose 2 percent in June, slowing significantly from a 3.7 percent expansion in May

South Korea’s car exports surge to new $37 billion high in 2024, driven by hybrid and electric demand

The number of cars exported totaled 1,467,196 units, up 3.2 percent over the same period

India’s exports rise 5.4 percent to $65.47 billion in June, set to reach $800 billion

India's goods trade deficit narrowed to $20.98 billion in June from $23.78 billion in May

South Korea’s average car export prices hit record high of $25,224 in H1 2024

The combined value of automobile exports in South Korea rose to $37 billion in the first half of 2024

China launches its first e-visa in Shanghai

The e-visa, or electronic visa, is the digital version of the traditional paper visa

South Korea’s ICT exports rise for eight consecutive month, reach $21.05 billion in June

ICT exports totaled $108.9 billion, the second-highest figure for the period

Pakistan secures new $7 billion loan program from IMF

This agreement, Pakistan's 24th IMF bailout, now awaits approval from the IMF's executive board

China’s central bank likely to hold medium-term lending rate steady next week

Weak Chinese currency has remained a major concern limiting any easing to the central bank's monetary policy

Japan’s credit profile to benefit from higher interest rates, stronger inflation outlook: Fitch

Higher inflation helps lower the value of outstanding debt and pushes down Japan's debt-to-GDP ratio

Japan’s base pay rises 2.5 percent in May, the fastest in 31 years

Japan's nominal wages rose 1.9 percent to $1,850, marking the highest year-on-year increase in 11 months

Japan’s current account surplus expands 41.8 percent to $18 billion in May 2024

Primary income came to a 4.21 trillion yen surplus, the largest since comparable data became available in 1985

South Korea’s carriers see 29 percent surge in passenger traffic to record high 47 million in H1 2024

South Korea's passenger traffic will likely reach 100 million in 2024, exceeding the pre-pandemic level of 93.47 million in 2019

Thailand’s tourism sector surges with 17.5 million visitors in H1 2024

Tourists brought the country revenues of over $22.6 billion in H1 2024

South Korea’s current account surplus hits $8.92 billion in May, largest in 32 months

Exports, which played a major role in this economic shift, rose 11.1 percent year-on-year to $58.95 billion in May

Japan faces shortfall of nearly one million foreign workers by 2040 to meet growth goals

5.91 million foreign workers are expected to be employed in Japan by 2040

South Korea’s President announces $18 billion support package for micro businesses

The government will expand access to low-interest loans for micro business owners and extend the repayment period for policy loans

South Korea’s semiconductor exports hit record high of $13.42 billion in June

The country’s total exports reached $57.07 billion in June, a 5.1 percent annual increase

South Korea reveals 10-year $1.44 billion plan to develop cutting-edge green technologies for ships

The technologies include features such as full autopilot capabilities and carbon-free engine

Japan revises Q1 GDP contraction to 2.9 percent from 1.8 percent on data corrections

Japanese companies project inflation to hit 2.3 percent three years from now and 2.2 percent five years later

Vietnam cuts VAT to 8 percent on select goods and services till year end

Vietnam's finance ministry has also reduced various fees and charges by up to 50 percent until year-end to support businesses

South Korea’s industrial output falls 0.7 percent in May, semiconductor gains offset by automobile declines

Retail sales and facility investment also lost ground during the same period

South Korean government allocates $17.9 billion for R&D budget for 2025

The ministry will allocate 3.5 trillion won to AI chips, advanced biotech, and quantum tech