AEIR 2019/2020

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 -43.5 (May20)-43.5 -25.6
Exchange Rate Index 2 120.0 (Aug20)120.1 120.0
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

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