Asia Regional Integration Center
Tracking Asian Integration
The economic fallout from the COVID-19 pandemic caused GDP to contract by 6.1% in 2020 after declining by 1.2% in 2019. Domestic demand weakened by 10.1% in 2020 with declines in private consumption, gross fixed capital formation, and investment. This was slightly offset by expansionary fiscal policy, as government expenditure rose by 7.8%. Inflation slowed to 0.3% from 2.9% in 2019. The current account surplus grew from 6.0% of GDP in 2019 to 6.6% in 2020, while the overall balance of payments reversed its 0.3% deficit in 2019 to a 9.7% surplus in 2020. GDP growth is forecast to rebound by 4.6% in 2021 and 4.5% in 2022, as private consumption and investment recover.
Source: Asian Development Outlook 2021.
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Composite Stock Price Index 1 | 21.0 (Apr22) | 21.0 | 28.0 |
Broad Money Growth 2 | 4.0 (Mar22) | 4.0 | 3.6 |
Headline Inflation Rate 3 | 1.8 (Mar22) | 1.7 | 0.6 |
Industrial/ Manufacturing Production Growth Rate 3 | 5.7 (Dec21) | -6.0 | |
Merchandise Export Growth 3 | -9.6 (Mar22) | -9.6 | 0.3 |
Exchange Rate Index 4 | 101.1 (Apr22) | 100.9 | 100.2 |
1 Monthly average, local index. 2 %. 3 y-o-y, %. 4 Monthly average, January 2006 = 100, $/local currency. | |||
Source: Bloomberg LP; CEIC database; Census and Statistics Department. |
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