Asia Regional Integration Center
Tracking Asian Integration
A steep fall in construction and moderation in tourism income slowed GDP growth to 5.7% in 2019 from 6.9% in 2018. Large construction projects were completed, while substantial delays slowed the government’s investment program. Despite a 14.7% growth in tourist arrivals—a record 1.7 million visitors—growth in tourism receipts slowed to 4.3% in 2019 from 10.4% in 2018. Price controls on staples helped inflation at 0.2%. The current account deficit narrowed to an estimated 21.5% of GDP. The COVID-19 pandemic could contract GDP by 6.2%–12.3% in 2020 before an expected recovery in 2021.
Source: Asian Development Outlook 2020, ADB
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Headline Inflation Rate 1 | -0.4 (Aug19) | 0.3 | 1.4 |
Merchandise Export Growth 1 | -36.0 (Sep20) | -36.0 | 107.8 |
Exchange Rate Index 2 | 120.0 (Jan21) | 120.3 | 120.1 |
1 y-o-y, %. 2 Monthly average, January 2006 = 100, $/local currency. | |||
Source: CEIC database. |
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