Asia Regional Integration Center

The economy grew by 3.0% in 2018 on continued growth in tourist arrivals and contributions from agriculture, forestry, and construction. Visitor arrivals increased by 3.3%, boosting tourism earnings to 20% of GDP and boosting employment. Sugarcane production increased, but cane quality suffered and milling efficiency declined. Timber harvested from pine and mahogany plantations rose substantially. Private construction grew strongly in 2018 with new construction augmenting maintenance and repair. Growth is projected to improve to 3.2% in 2019 and 3.5% in 2020. All sectors are expected to grow, with tourism continuing to lead and construction contributing substantially.