AEIR 2021

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 -0.4 (Dec20)-0.4 8.6
Headline Inflation Rate 2 2.0 (Dec20)2.3 0.3
Merchandise Export Growth 2 -63.0 (Nov20)-63.0 -29.5
Exchange Rate Index 3 81.4 (Feb21)81.4 81.3
1 %.
2 y-o-y, %.
3 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

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