AEIR 2021

Growth recovered to 7.6% in 2019 from 5.2% in 2018 on strong gains in services, industry, and private consumption. On the supply side, growth accelerated in industry and services, but not agriculture. On the demand side, private consumption powered the expansion, while net exports and investment remained sluggish. With the impact of COVID-19, GDP growth is projected to slow to 2.2% in 2020, recovering to 4.5% in 2021 as reforms initiated in 2019 and 2020 take hold. Inflation and the current account deficit are expected to rise slightly in 2020 before moderating in 2021.
Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Headline Inflation Rate 1 4.5 (Jan21)3.7 0.2
Industrial/ Manufacturing Production Growth Rate 1 -10.8 (Jan21)-5.8 14.0
Merchandise Export Growth 1 -11.3 (Jan21)-11.3 9.9
Exchange Rate Index 2 115.7 (Feb21)115.7 115.3
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

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