AEIR 2021

The economy contracted by 2.6% in 2020, reversing its 4.5% growth in 2019. Measures to control the spread of COVID-19 severely affected services, while layoffs hampered private consumption. Public consumption grew by 13.8% in 2020 due to pandemic response stimulus. On the supply side, services contracted most, declining by 5.6% year-on-year due to losses in transportation and trade. Industry also fell, but by just 0.4%. However, the next 2 years should see the economy return to growth, with GDP forecast to grow by 3.2% in 2021 and 3.5% in 2022, provided the pandemic abates as vaccine rollouts accelerate.

Source: Asian Development Outlook 2021.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 3.0 (May21)3.0 2.0
Broad Money Growth 2 15.9 (Mar21)15.9 21.6
Headline Inflation Rate 3 7.0 (Apr21)7.0 6.8
Industrial/ Manufacturing Production Growth Rate 3 3.0 (Apr21)4.0 6.2
Merchandise Export Growth 3 -7.8 (Mar21)-7.8 -19.2
Exchange Rate Index 4 321.4 (May21)323.6 314.6
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database.

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