AEIR 2019/2020

Economic growth is estimated to have fallen to 0.7% in 2019 from 3.5% in 2018. Slower growth among major trading partner economies cut growth in visitor arrivals to 2.8%, the lowest since 2013. Growth in tourism earnings slowed to 2.7% from 4.5% in 2018. A tighter government budget and slower growth in private sector credit also contributed to the GDP growth slowdown. Sugarcane production accelerated to 6.5% in 2019 from 4.0% in 2018 and sugar production grew by 5.3%, reversing the 11.2% decline in 2018. The fiscal deficit narrowed to 3.4% of GDP while monetary policy remained accommodative in response to weak demand. GDP is projected to contract by 4.9% in 2020 as the COVID-19 pandemic continues to ban most travel. Investment in climate resilient infrastructure, limits on debt exposure and building fiscal buffers could help growth recover to 3.0% in 2021.

Source: Asian Development Outlook 2020, ADB
Integration Index

0.36

Free Trade Agreements

66

Crossborder & Infra Initiatives

11

Money & Finance Initiatives

5

Regional Public Goods Initiatives

14


Total Trade, in million US$
Inward FDI flows (BOP) in million US$
Outward Portfolio Equity Investment
Outward Portfolio Debt Investment
Ratio of Migrants to Population
Outbound Tourism
Latest Month-Ago Year-Ago
Headline Inflation Rate 1 -2.8 (Mar20)-3.0 4.0
Merchandise Export Growth 1 67.3 (Feb20)67.3 -37.7
Exchange Rate Index 2 76.7 (May20)75.7 79.7
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

Initiatives / FTAs

News