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 (Oct21)3.0 2.0
Broad Money Growth 2 19.3 (Sep21)19.3 18.9
Headline Inflation Rate 3 8.9 (Sep21)8.7 7.0
Industrial/ Manufacturing Production Growth Rate 3 4.7 (Sep21)1.9 -3.5
Merchandise Export Growth 3 66.8 (Aug21)66.8 95.9
Exchange Rate Index 4 320.1 (Oct21)320.0 322.6
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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