Asia Regional Integration Center
Tracking Asian Integration
Economic growth remained stable at 3.6% in FY2019 on higher construction, fishing, and public administration. Agriculture expanded for a third consecutive year and the fish catch rebounded, resulting in double-digit growth in exports to Japan and Taipei,China. The fiscal surplus rose to 3.0% of GDP in 2019 from 2.5% in 2018. Government debt fell from 70.0% of GDP in FY2009 to 35.0% in FY2018. Inflation eased to 0.1% in 2019 from 0.8% in 2018. Growth is projected to decelerate to 2.5% in FY2020 as travel and transport restrictions caused by the COVID-19 pandemic depress growth in construction, agriculture, fishing, and trade. Growth is expected to rebound to 3.7% in FY2021 as restrictions are gradually eased.
Source: Asian Development Outlook 2020, ADB
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Merchandise Export Growth 1 | -25.0 (Sep20) | -25.0 | -53.7 |
Exchange Rate Index 2 | 100.0 (Jan21) | 100.0 | 100.0 |
1 y-o-y, %. 2 Monthly average, January 2006 = 100, $/local currency. | |||
Source: . |
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