AEIR 2019/2020

Estimates indicate GDP growth slowed from 6.3% in FY2017 to 5.5% in FY2018 on weaker industrial production. Construction remained an important growth driver despite the slowdown in hydropower projects, which cut the FY2017 9.8% expansion to 5.0%. Services grew a rapid 8.0% on robust expansion in wholesale and retail trade, hotels and restaurants, and transportation and communications. Revenue from international tourism rose by 5.0%. On the demand side, growth in consumption was a major contributor to sustaining growth, as private consumption grew markedly and government current spending remained robust. Growth will likely accelerate to 5.7% in FY2019 and 6.0% in FY2020. Services, particularly wholesale and retail business and tourism, will continue to drive the economy.

Source: Asian Development Outlook 2019, ADB.
Latest Month-Ago Year-Ago
Headline Inflation Rate 1 2.3 (Dec19)3.1 0.0
Merchandise Export Growth 1 195.8 (Jan20)-0.3 -4.7
Exchange Rate Index 2 171.9 (Apr20)168.0 156.5
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

Initiatives / FTAs