Asia Regional Integration Center
Tracking Asian Integration
GDP growth rose to 4.5% in 2019 from 4.1% in 2018 as higher consumption, investment, and services drove the expansion. Most supply side sectors, however, lost steam, with growth in agriculture slowing to 0.9% (from 3.8% in 2018) and industry slipping to 3.8% (from 4.4%). Services did well, growing by 4.4% (from 3.9% in 2018). On the demand side, consumption expanded markedly, jumping from 1.6% growth during the first 9 months of 2018 to 6.7% for the same period in 2019. In addition, investment grew by 8.9%.in 2019, up from 2.8% in 2018. Despite the strong performance, however, the 2020 forecast accounts for a hit from the plunge in oil prices and the impact of COVID-19. GDP growth is expected to drop to 1.8% in 2020 before recovering to 3.6% in 2021.
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Composite Stock Price Index 1 | 2.0 (Dec20) | 2.0 | 2.0 |
Broad Money Growth 2 | 20.3 (Nov20) | 20.3 | 17.8 |
Headline Inflation Rate 3 | 7.3 (Nov20) | 7.1 | 5.4 |
Industrial/ Manufacturing Production Growth Rate 3 | -2.9 (Nov20) | -6.2 | 4.8 |
Merchandise Export Growth 3 | -22.2 (Oct20) | -22.2 | -32.8 |
Exchange Rate Index 4 | 316.1 (Dec20) | 321.9 | 288.5 |
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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