Asia Regional Integration Center
Tracking Asian Integration
The economy grew by 7.1% in FY2019 (from 6.7% a year earlier) on strong agricultural growth, buoyant tourist arrivals, remittances, and private investment. Services growth, in particular, rose to 7.3%, while industry continued to expand by 8.1%. On the demand side, consumption expenditure and private investment remained robust. Meanwhile, public investment increased by just 5.5%, following a 54.2% surge in FY2018, due to construction delays. Inflation increased slightly to 4.6% (from 4.2%) as food prices rose. GDP growth is forecast to slow to 5.3% in FY2020, mainly due to the impact of the COVID-19 pandemic on tourism and remittances.
Source: Asian Development Outlook 2020, ADB
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Headline Inflation Rate 1 | 4.0 (Nov20) | 3.8 | 5.8 |
Industrial/ Manufacturing Production Growth Rate 1 | 8.4 (Jan20) | 6.3 | |
Merchandise Export Growth 1 | -3.5 (Nov20) | -3.5 | 18.4 |
Exchange Rate Index 2 | 166.4 (Dec20) | 167.8 | 160.9 |
1 y-o-y, %. 2 Monthly average, January 2006 = 100, $/local currency. | |||
Source: CEIC database. |
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