AEIR 2021

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 4.2 (Jul21)4.2 4.8
Industrial/ Manufacturing Production Growth Rate 1 8.4 (Jan20)6.3
Merchandise Export Growth 1 108.1 (Jul21)108.1 123.2
Exchange Rate Index 2 167.5 (Aug21)168.4 168.8
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

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