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 (Aug21) | 11.9 | 4.8 |
| Industrial/ Manufacturing Production Growth Rate 1 | 2.3 (Mar21) | 7.8 | |
| Merchandise Export Growth 1 | 42.4 (Jul21) | 42.4 | 30.1 |
| Exchange Rate Index 2 | 173.0 (Aug21) | 173.5 | 171.0 |
| 1 y-o-y, %. 2 Monthly average, January 2006 = 100, $/local currency. | |||
| Source: CEIC database. | |||
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