Asia Regional Integration Center
Tracking Asian Integration
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 (Apr22) | 3.0 | 3.0 |
Broad Money Growth 2 | 12.8 (Mar22) | 12.8 | 21.4 |
Headline Inflation Rate 3 | 13.2 (Apr22) | 12.0 | 7.0 |
Industrial/ Manufacturing Production Growth Rate 3 | 8.1 (Mar22) | 6.5 | 4.0 |
Merchandise Export Growth 3 | 59.9 (Feb22) | 59.9 | 86.7 |
Exchange Rate Index 4 | 339.6 (Apr22) | 376.0 | 323.6 |
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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