Asia Regional Integration Center
Tracking Asian Integration
The economy contracted by 1.9% in fiscal year 2020 (FY2020, ending 15 July) after growing by 6.7% in FY2019. Industry contracted by 7.4%; services by 3.6%. Agriculture expanded by 2.2%. On the demand side, private consumption remained robust on healthy remittance inflows, while private fixed investment fell by 3.0% and public investment decreased by 5.4%. Inflation rose to 6.2% in FY2020 from 4.6% in FY2019 on an 8.2% increase in food prices. The economy is projected to rebound to 3.1% growth in FY2021 and 5.1% in FY2022 as the global economy recovers and COVID-19 restrictions are lifted.
Source: Asian Development Outlook 2021.
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Headline Inflation Rate 1 | 7.1 (Mar22) | 6.0 | 3.0 |
Industrial/ Manufacturing Production Growth Rate 1 | 28.2 (Jul21) | -31.9 | |
Merchandise Export Growth 1 | 42.8 (Mar22) | 42.8 | 37.3 |
Exchange Rate Index 2 | 172.1 (Apr22) | 172.2 | 168.2 |
1 y-o-y, %. 2 Monthly average, January 2006 = 100, $/local currency. | |||
Source: CEIC database. |
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