Asia Regional Integration Center
Tracking Asian Integration
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.
|Composite Stock Price Index 1||28.0 (Apr23)||27.0||27.0|
|Broad Money Growth 2||2.2 (Feb23)||2.2||2.2|
|Headline Inflation Rate 3||3.3 (Mar23)||3.3||1.2|
|Industrial/ Manufacturing Production Growth Rate 3||-0.8 (Mar23)||-0.5||-1.7|
|Merchandise Export Growth 3||-7.5 (Mar23)||-7.5||-7.8|
|Exchange Rate Index 4||115.7 (Apr23)||115.8||109.5|
|1 Monthly average, local index.|
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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