AEIR 2021

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 25.0 (Oct21)25.0 24.0
Broad Money Growth 2 1.4 (Sep21)1.4 0.4
Headline Inflation Rate 3 1.5 (Sep21)1.8 -2.3
Industrial/ Manufacturing Production Growth Rate 3 2.6 (Mar21)-4.6
Merchandise Export Growth 3 16.0 (Sep21)16.0 25.4
Exchange Rate Index 4 100.3 (Oct21)100.3 100.0
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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