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 (Jul21)3.0 2.0
Broad Money Growth 2 19.8 (Jul21)19.8 24.3
Headline Inflation Rate 3 8.4 (Jul21)7.9 7.1
Industrial/ Manufacturing Production Growth Rate 3 8.2 (Jul21)1.7 -9.6
Merchandise Export Growth 3 68.3 (Jun21)68.3 24.6
Exchange Rate Index 4 319.9 (Aug21)320.8 315.2
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database.

Initiatives / FTAs

News