A total of 10,761 deals (comprising mergers & acquisitions (M&A), private equity, and venture financing deals) were announced in the Asia-Pacific (APAC) region during the first three quarters (Q1-Q3) of 2023, which was a decline of 20.6% compared to the announcement of 13,554 deals during the same period in 2022, according to GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Financial Deals Database revealed that all the deal types under coverage witnessed a year-on-year (YoY) decline in deal volume in the APAC region during Q1-Q3 2023.

The number of M&A deals declined by 12% during Q1-Q3 2023 compared to Q1-Q3 2022, while the volume of private equity deals and venture financing deals were down by 16.5% and 28.1%, respectively.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Globally, deal activity remained subdued during Q1-Q2 2023 as market conditions remained challenging and uncertain, and the APAC region also followed a similar trend akin to all other regions.”

Several key APAC markets also felt the brunt and experienced a setback in deal activity. For instance, China, which is the top APAC market in terms of deals volume, witnessed the total number of deals falling by 13.8% during Q1-Q2 2023 compared to the same period in 2022.

Similarly, other APAC markets such as India, Japan, Australia, South Korea, Singapore, Hong Kong, Indonesia, and New Zealand recorded YoY decline in deals volume by 28.9%, 17.4%, 20.7%, 31.8%, 20.8%, 20.7%, 39.7%, and 23.9% during Q1-Q3, respectively.