Asia Regional Integration Center
Tracking Asian Integration
GDP growth fell to 5.0% in 2019 from 6.2% in 2018. A combination of floods and drought, and African swine flu slowed agricultural production, which comprises 15.5% of GDP. Industrial growth also slowed as hydroelectric power generation fell. Growth in services, however, rose slightly, to 7.2% in 2019 from 7.0%, from an increase in tourism. Higher food prices drove inflation to 3.3%. Export growth eased from 18.7% to 4.5% while import growth plunged to 0.5% due to the depreciation of the kip. The COVID-19 impact and general regional slowdown will limit GDP growth to 3.5% in 2020—even with an increase in hydroelectric power generation, public construction and recovery in agriculture. Growth should rise to 6.0% in 2021 as tourism, transport, trade, and related services revive.
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Composite Stock Price Index 1 | 594.1 (Dec20) | 585.0 | 687.5 |
Broad Money Growth 2 | 18.1 (Sep20) | 18.1 | 14.0 |
Headline Inflation Rate 3 | 2.8 (Nov20) | 3.6 | 5.9 |
Merchandise Export Growth 3 | 23.0 (Sep20) | 23.0 | 2.4 |
Exchange Rate Index 4 | 86.9 (Dec20) | 86.8 | 83.0 |
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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