AEIR 2023

The economy recovered in the fourth quarter of 2021, with GDP expanding by 14.4% at a seasonally adjusted annualized rate. Household spending surged, increasing consumption by 18.7%. In December, unemployment fell to 4.2%, the lowest in 13 years. Inflation accelerated to 2.9% from 0.9% in 2020, the highest rate in 10 years. In addition, lower fixed capital investment cut growth by 1.5 percentage points on lower private business investment. Exports were down by 6.0% and imports fell 3.5% from global supply-chain disruptions. GDP is estimated to grow by 4.0% this 2022 and 3.1% in 2023 as domestic demand strengthens from accommodative financing conditions, accumulated savings, and an easing of COVID-19 restrictions. 
Source: Asian Development Outlook 2022.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 4.0 (Apr23)4.0 4.0
Broad Money Growth 2 8.0 (Feb23)8.0 8.6
Headline Inflation Rate 3 7.0 (Mar23)5.1
Industrial/ Manufacturing Production Growth Rate 3 2.0 (Dec22)1.2
Merchandise Export Growth 3 0.7 (Mar23)0.7 2.7
Exchange Rate Index 4 89.1 (Apr23)88.9 98.0
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database.

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