AEIR 2019/2020

Recovery in agriculture and industry pushed GDP growth up to 6.8% in FY2019 (ending September 2019) from 6.4% in FY2018. Inflation surged to 8.6% in FY2019 from 5.9%. Foreign direct investments (FDI) commitments expanded to $4.2 billion during the year, with manufacturing, transportation and telecommunications as key FDI sectors. The current account deficit narrowed to the equivalent of 3.5% of GDP in FY2019 from 3.7% in FY2018. Growth is forecast to slow to 4.2% in FY2020 given the impact of the COVID-19 pandemic but should rebound to 6.8% in 2021 assuming the virus is quickly contained. A general election in late 2020 could create uncertainty over economic policy and affect growth prospects.

Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Broad Money Growth 1 42.6 (Jul20)42.6 42.5
Headline Inflation Rate 2 1.8 (Aug20)1.7 10.4
Merchandise Export Growth 2 -9.9 (Jul20)-9.9 -25.4
Exchange Rate Index 3 20.0 (Oct20)20.0 23.0
1 %.
2 y-o-y, %.
3 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

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