Asia Regional Integration Center
Tracking Asian Integration
Real GDP contracted by 6.2% in 2020, reversing the 5.0% growth in 2019, as measures to contain COVID-19 cut domestic demand, and steep declines in tourism and export receipts pummeled the external sector. Growth is forecast to return to 3.5% in 2021 with a gradual revival in domestic demand and private consumption. Economic growth should accelerate to 6.0% in 2022 with an expected recovery in tourism and the full reopening of the economy. Industry is forecast to expand by 7.6% in 2021 as continued fiscal stimulus supports construction and other sectors and as external demand rebounds. GDP is forecast to grow by 6.0% in 2022.
Source: Asian Development Outlook 2021.
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Headline Inflation Rate 1 | 12.8 (Apr22) | 11.8 | 7.2 |
Industrial/ Manufacturing Production Growth Rate 1 | 12.0 (Dec21) | -12.1 | |
Merchandise Export Growth 1 | 26.3 (Mar22) | 26.3 | 60.3 |
Exchange Rate Index 2 | 170.1 (Apr22) | 179.8 | 190.9 |
1 y-o-y, %. 2 Monthly average, January 2006 = 100, $/local currency. | |||
Source: CEIC database. |
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