AEIR 2021

GDP growth slowed slightly to an estimated 7.1% in 2019 (from 7.5% in 2018). Garment manufacturing, construction, and tourism continued to expand. The current account deficit widened significantly from 12.2% of GDP in 2018 to an estimated 17.6% in 2019 as import growth outpaced exports. Growth is expected to slow dramatically to 2.3% in 2020 as a direct result of the COVID-19 outbreak—low growth in the People’s Republic of China, a contraction in major advanced economies, and reduced access to export markets. Growth is expected to rebound to 5.7% in 2021. The pandemic hit services hard by reducing tourist arrivals and is expected to hurt construction and manufacturing through supply chain disruptions and reduced demand.

Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Broad Money Growth 1 13.6 (Sep20)13.6 12.6
Headline Inflation Rate 2 3.7 (Nov20)3.7 1.8
Merchandise Export Growth 2 -3.2 (Nov20)-3.2 -6.3
Exchange Rate Index 3 99.3 (Feb21)99.3 99.0
1 %.
2 y-o-y, %.
3 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

Initiatives / FTAs