APAC Outlook

The CFO Survey conducted between July and September 2023 gathered 479 responses from CFOs, controllers, and finance directors, with an aim to understand their business performance and payment behavior that they faced over the past year. 

The global agrifood market has grown significantly, expanding from US$8.28 trillion in 2021 to US$8.67 trillion in 2022. Read our report to learn more about Agrifood industry outlook 2023.

Asia Pacific, led by China, has been driving the global growth in machinery and equipment exports.

After a sluggish year in 2020 on a global scale, the chemicals sector has shown good dynamism in 2021 with a rebound of +7% y/y in volume terms, and an outstanding growth of +29% y/y in value terms, reaching US$5,480bn. This performance was partly due to base effects (i.e. -5% drop in value terms registered in 2020) but also the result of sustained demand from key end-use sectors such as manufacturing, housing and farming. The war in Ukraine emerged and expectations for 2022 have been subsequently lowered to a +2.5% growth in volume.