Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

PK Basu has 34 years experience covering Asia's economies and markets (equities, fixed income and currencies), including 20 years covering the global economy. He was Chief Economist (SE Asia & India) at Credit Suisse First Boston for 5 years, and Chief Asia (x-Jpn) Economist at Daiwa Securities for a similar period. Among other roles, he was global head of research at Maybank Kim Eng, Malaysia equity research head and chief ASEAN economist at Macquarie, Chief Economist at ICICI Securities, ASEAN economist at UBS and the first chief economist at Khazanah Nasional (where he was co-head of research, and led all agri-business initiatives). PK Basu started his career in the Asia Service of WEFA (Wharton Econometrics) in Philadelphia in 1990, rising to be Director of their Asia Service in June 1994. 
PK's book, "Asia Reborn: A continent rises from the ravages of Colonialism and War to a New Dynamism" won the Tata Literature First Book Award (non-fiction) for 2018. It is the first single chronicle of the modern economic and political history of the whole of Asia (from Iraq and Turkey to Korea and Japan, and everything in between), told from an Asian perspective.

Chief Economist & Political Strategist

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CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>Merchandise exports grew 11.9%YoY in Feb'24 (+7.5%YoY in Jan-Feb'24) amid a broad-based rebound in engineering, pharma, chemical, electronic exports. With exports outpacing imports, the merchandise deficit declined 8.2%YoY in Apr'23-Feb'24. </li>
<li>Services exports are robust, with many hitherto-imported services also moving onshore. The services trade surplus widened 20%YoY in Apr'23-Jan'24, likely enabling the FY24 CAD to shrink to 0.6% of GDP.</li>
<li>With goods exports set to accelerate, and crude oil prices relatively tame, we expect the current account to swing to a surplus in CY24 (and +0.5% of GDP in FY25). </li>
</ul>


Merchandise exports grew 11.9%YoY in Feb'24 (+7.5%YoY in Jan-Feb'24) amid a broad-based rebound in engineering, pharma, chemical, electronic exports. With exports outpacing imports, the merchandise deficit declined 8.2%YoY in Apr'23-Feb'24. 
Services exports are robust, with many hitherto-imported services also moving onshore. The services trade surplus widened 20%YoY in Apr'23-Jan'24, likely enabling the FY24 CAD to shrink to 0.6% of GDP.
With goods exports set to accelerate, and crude oil prices relatively tame, we expect the current account to swing to a surplus in CY24 (and +0.5% of GDP in FY25). 


S&P BSE SENSEX Index (SENSEX INDEX EQUITY)

India: Merchandise and Services Both Help Toward a CA Surplus in CY24