AEIR 2022

The economy contracted 4.8% in 2020, after growing by 0.3% in 2019, due to the COVID-19 pandemic. However, growth returned in Q3 2020, as GDP expanded by 22.8% (seasonally adjusted annualized rate [saar]), driven by a 22%-growth in private consumption due to easing pandemic restrictions and substantial fiscal support. Export growth rose by 33.2% during the quarter due to robust demand for semiconductors and related machinery from the People’s Republic of China. However, with infections rising in November, growth moderated to 11.7% saar in the fourth quarter. Nonetheless, with positive leading indicators and continued policy support, GDP is expected to grow by 2.9% in 2021 and 2.4% in 2022.

Source: Asian Development Outlook 2021.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 27.0 (Apr22)26.0 29.0
Broad Money Growth 2 2.9 (Feb22)2.9 3.2
Headline Inflation Rate 3 1.2 (Mar22)0.9 -0.4
Industrial/ Manufacturing Production Growth Rate 3 -1.7 (Mar22)0.5 3.6
Merchandise Export Growth 3 5.1 (Mar22)5.1 8.9
Exchange Rate Index 4 109.5 (Apr22)102.8 94.5
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 Economy, Trade and Industry; Ministry of Finance.

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Advancing Digital Services Trade in Asia and the Pacific
Making Digital Platforms Work for Asia and the Pacific
Edited by: Bambang Susantono, Cyn-Young Park