AEIR 2022

After contracting by 4.8% in 2020, the economy grew by 1.7% in 2021. Growth momentum stalled in the first quarter of 2021 as mobility restrictions were imposed due to a resurgence of COVID-19 cases from the omicron variant. Nonetheless, immediately after the restrictions were lifted in September 2021, contact-intensive services recovered and private consumption returned to pre-pandemic levels. Given the recovery in domestic and foreign demand, as well as an expected uptick in private investment, the economy is projected to grow by 2.7% in 2022. Growth is expected to moderate to 1.8% in 2023 on a reduction in net exports. 

Source: Asian Development Outlook 2022.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 26.0 (Oct22)27.0 28.0
Broad Money Growth 2 2.7 (Sep22)2.7 2.9
Headline Inflation Rate 3 3.0 (Sep22)3.0 0.2
Industrial/ Manufacturing Production Growth Rate 3 9.8 (Sep22)5.8 -2.5
Merchandise Export Growth 3 -0.9 (Sep22)-0.9 -0.9
Exchange Rate Index 4 127.5 (Oct22)124.1 98.0
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 Economy, Trade and Industry; Ministry of Finance.

Initiatives / FTAs

News