AEIR 2018

Growth picked up in fiscal year 2017 (FY2017, ended 30 June 2017) to 5.4% as private consumption remained upbeat, services grew, agriculture rebounded, and consumer and investment demand strengthened. Economic growth in FY2018 accelerated to 5.8%, the highest in 13 years, on robust agriculture, an uptick in industry, and sustained expansion in services.

Inflation in FY2018 moderated to 3.9%, from 4.2% in FY2017, although nonfood inflation remained high from rising oil prices and the country’s depreciating local currency, strong agricultural output managed to curb food inflation.

Foreign currency reserves have been falling, but the current account deficit is seen to moderate as the government imposed restrictions to curb import demand. Nevertheless, economic growth is seen to taper off in FY2019, to 4.8%, in light of a pressing need to deal with large budget and external imbalances.

Source: Asian Development Outlook Update 2018, ADB
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 39.0 (Oct18)41.0 40.0
Broad Money Growth 2 12.2 (Jun17)12.2 13.1
Headline Inflation Rate 3 7.0 (Oct18)5.1 3.8
Industrial/ Manufacturing Production Growth Rate 3 4.3 (Apr18)2.6 10.5
Merchandise Export Growth 3 3.5 (Sep18)3.5 8.3
Exchange Rate Index 4 218.7 (Oct18)207.6 176.2
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; Federal Bureau of Statistics.