AEIR 2018

GDP growth jumped to an estimated 7.6% in 2018 from 6.9% in 2017 on an expansion in tourism, construction, and supporting services. While growth in tourist arrivals slowed from 8.0% in 2017 to 6.8% in 2018, revenues grew by 10.3% as the average stay lengthened to 6.4 days. Moreover, growth in tourist goods and services tax revenues accelerated to 11.4%, reflecting strong income growth for both the government and resorts. Rising demand from public and private infrastructure projects—and credit growth—boosted construction growth. Tourism and construction will continue to drive growth in 2019 and 2020, projected at 6.5% and 6.3%, respectively.

Source: Asian Development Outlook 2018, ADB.
Latest Month-Ago Year-Ago
Headline Inflation Rate 1 -1.2 (Mar19)-1.2 0.1
Merchandise Export Growth 1 206.2 (Feb19)206.2 133.6
1 y-o-y, %.
Source: CEIC database.

Initiatives / FTAs

News