AEIR 2017

Economic growth (0.5%) climbed back to positive territory in 2017, ending a recession that came with a sharp 3.6% contraction in output in 2016. Gains in in services, agriculture and oil prices offset a decline in services. Inflation hit 12.9% in 2017, driven by the price of food (16.4%) and other goods (11.6%). Policy interest rate was at 15% in 2017 while the current account balance turned surplus. Growth continued to recover in the first 5 months of 2018 and is forecast to be 1.7% in 2018 and 2.0% in 2019 as construction rebounds and industrial activity picks up steam.

Source: Asian Development Outlook 2018 and ADO 2018 Supplement (dated July 2018).
Latest Month-Ago Year-Ago
Headline Inflation Rate 1 2.3 (Jun18)2.0 14.2
Industrial/ Manufacturing Production Growth Rate 1 0.6 (Jun18)10.8 -2.2
Merchandise Export Growth 1 17.1 (Jun18)17.1 38.6
Exchange Rate Index 2 184.3 (Jul18)183.9 183.7
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.