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 24.0 (Nov21)25.0 26.0
Broad Money Growth 2 2.9 (Nov21)2.9 -4.2
Headline Inflation Rate 3 1.7 (Nov21)1.6 -0.2
Industrial/ Manufacturing Production Growth Rate 3 5.7 (Jun21)-5.1
Merchandise Export Growth 3 24.4 (Nov21)24.4 20.9
Exchange Rate Index 4 100.5 (Dec21)100.5 100.0
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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