AEIR 2018

Economic growth dipped in FY2018 to 7.0% from 7.2% in FY2017, mostly due to slower growth in agriculture, which grew by 2.7%—the slowest in 3 years. On the supply side, industry buoyed growth, rising sharply by 7.7% in FY2018 due to strong manufacturing, construction, and utilities. On the demand side, private consumption grew by 8.3%—its highest in 7 years. Domestic demand will remain the main driver of growth. Steps to alleviate agriculture distress—such as income support to farmers and strong hikes to procurement prices for food grains—may bolster rural demand. GDP growth should return to 7.2% in 2019 and rise slightly to 7.3% in 2020.
Source: Asian Development Outlook 2019, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 38.0 (Jul19)39.0 36.0
Broad Money Growth 2 10.6 (Jul19)10.6 10.1
Headline Inflation Rate 3 3.2 (Jun19)3.1 4.9
Industrial/ Manufacturing Production Growth Rate 3 3.1 (May19)4.3 3.9
Merchandise Export Growth 3 -9.7 (Jun19)-9.7 4.0
Exchange Rate Index 4 155.1 (Jul19)156.6 155.0
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; Ministry of Statistics and Program Implementation; Ministry of Commerce and Industry.

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