AEIR 2018

Strong gains in services, consumption, and investment boosted growth to 5.0% in 2017 from 2.8% in 2016. Higher excise taxes and import prices caused inflation to triple to 6.0% in 2017 compared to 2016. Growth projections were revised up to rise to 4.9% this year and 5.0% in the next year on strong investment and exports, including a greater diversification in service exports. Inflation is projected to slow down to 3.0% in 2018 as the impact of one-time increases in excise taxes wanes and from low food prices, and will be maintained at 3.0% in 2019 as fiscal discipline promises to stabilize prices. The current account deficit narrowed due to export expansion but is forecast to widen to 9.5% of GDP in 2018 and dip to 8.5% in 2019.

Source: Asian Development Outlook 2018 Update, ADB.
Latest Month-Ago Year-Ago
Headline Inflation Rate 1 2.2 (Jan19)1.5 4.3
Industrial/ Manufacturing Production Growth Rate 1 -2.8 (Sep18)5.4 0.0
Merchandise Export Growth 1 14.0 (Dec18)14.0 19.6
1 y-o-y, %.
Source: CEIC database.

Initiatives / FTAs