AEIR 2019/2020

GDP growth expanded by 3.9% in 2019 from 0.1% in 2018, with the dominant oil and gas industry growing by 4.7% after contracting 1.1% in 2018. The recovery coupled with new downstream production of petroleum and chemical products further boosted economic activity. On the demand side, private consumption saw its highest growth in 6 years, expanding by 5.9% in 2019 from 2.2% in 2018. Improved labor conditions as well as lower inflation encouraged household spending and is expected to support the country’s recovery in the near term. With the impact of COVID-19, the economy is forecast to grow a slower 2.0% in 2020 before bouncing back to 3.0% in 2021.

Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Broad Money Growth 1 15.9 (May20)15.9 3.1
Headline Inflation Rate 2 2.5 (May20)1.9 -1.1
Merchandise Export Growth 2 -7.5 (Apr20)-7.5 15.6
Exchange Rate Index 3 85.1 (Jul20)85.4 83.5
1 %.
2 y-o-y, %.
3 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

Initiatives / FTAs

News