Asia Regional Integration Center
Tracking Asian Integration
In 2017, the economy featured strong growth estimated at 7.0%, sustained by robust expansion in exports, strong FDI inflows, solid tourist arrivals, and buoyant domestic demand. Combined with stable inflation at 2.9%, and a narrowing current account deficit at 10.9% of GDP from 11.2% a year earlier. With continued strength in the global economy, the outlook is positive for the next 2 years. Inflation is expected to edge alongside strong growth, while current account deficit will widen before narrowing in 2019. Rising wages require that other costs of doing business be cut to maintain competitiveness with peer economies. Great potential exists in simplifying cumbersome business procedures.
Source: Asian Development Outlook 2018, ADB.
| Latest | Month-Ago | Year-Ago | |
|---|---|---|---|
| Broad Money Growth 1 | 19.9 (Feb17) | 19.9 | 20.2 |
| Headline Inflation Rate 2 | 2.0 (Jan18) | 2.2 | 4.4 |
| Merchandise Export Growth 2 | 21.3 (Jan18) | 21.3 | 10.9 |
| Exchange Rate Index 3 | 97.9 (Apr18) | 97.6 | 98.4 |
| 1 %. 2 y-o-y, %. 3 Monthly average, January 2006 = 100, $/local currency. | |||
| Source: CEIC database. | |||
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