AEIR 2021

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 3.6 (Jan21)2.9 6.8
Industrial/ Manufacturing Production Growth Rate 1 8.4 (Jan20)6.3
Merchandise Export Growth 1 8.0 (Jan21)8.0 -16.0
Exchange Rate Index 2 164.4 (Feb21)164.4 165.2
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

Initiatives / FTAs