Asia Regional Integration Center
Tracking Asian Integration
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 | 2.4 (Nov20) | 2.4 | 2.7 |
Industrial/ Manufacturing Production Growth Rate 1 | 7.0 (Nov20) | 11.0 | 9.5 |
Merchandise Export Growth 1 | -15.4 (Oct20) | -15.4 | -48.1 |
Exchange Rate Index 2 | 184.4 (Dec20) | 184.4 | 184.3 |
1 y-o-y, %. 2 Monthly average, January 2006 = 100, $/local currency. | |||
Source: CEIC database. |
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