AEIR 2019/2020

GDP growth accelerated to 2.2% in 2019 from 1.4% in 2018. On the supply side, industry grew 0.7%, reversing an average decline of 2.9% in 2015–2018. Petroleum recovered while a 7.9% growth in manufacturing largely offset a steep drop in construction. Agricultural growth rose to 7.3% (from 4.6%), while services grew by 3.7% on gains in trade, communications, and tourism. On the demand side, consumption and net exports expanded. Inflation rose to 2.6% but remain within the central bank’s target band of 2%-6%. A decline in oil prices, amid the COVID-19 outbreak, will slash growth to 0.5% in 2020, but higher oil and gas production are projected to raise growth to 1.5% in 2021.

Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Headline Inflation Rate 1 2.8 (Aug20)2.7 2.5
Industrial/ Manufacturing Production Growth Rate 1 -0.3 (Aug20)0.2 -4.2
Merchandise Export Growth 1 -36.9 (Jul20)-36.9 -47.4
Exchange Rate Index 2 184.3 (Sep20)184.7 184.1
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

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