Asia Pacific: Economic overview
Economic growth in Northeast Asia is set to be higher in 2017 than it was in 2016.
China’s GDP is forecast to grow by 6.8% in 2017, up from 6.7% in 2016. Government policies and increased demand for exports are supporting the expansion of the country’s economy. However, the pace of GDP growth is expected to drop to 6.6% in 2018 and 6.4% 2019, partly because of a forecast reduction in export demand. Despite this, China’s gas demand is expected to continue to grow robustly at the start of 2018. The government’s policies to force through a switch from coal to gas are expected to continue to drive up demand next year.