Asia Regional Integration Center
Tracking Asian Integration
Economic growth recovered to 8.1% in 2021 from 2.2% in 2020, primarily driven by consumption. However, the economy showed signs of slowing in the second half of 2021. Household consumption accelerated by 12.6% in 2022, reversing a 4.0%-contraction in 2020. On the supply side, services contributed most, growing by 4.4%, with industry up by 3.1% and agriculture by 7.1%. GDP is expected to expand by 5.0% in 2022. With monetary policy expected to ease, exports should grow along with services (as domestic consumption improves). Economic growth is forecast to moderate to 4.8% in 2023 due to a slowdown in return on investment, coupled with a shrinking labor force.
Source: Asian Development Outlook 2022.
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Composite Stock Price Index 1 | 3.0 (Dec22) | 3.0 | 3.0 |
Broad Money Growth 2 | 12.4 (Nov22) | 12.4 | 11.9 |
Headline Inflation Rate 3 | 1.6 (Nov22) | 2.1 | 2.3 |
Industrial/ Manufacturing Production Growth Rate 3 | 2.2 (Nov22) | 5.0 | 3.8 |
Merchandise Export Growth 3 | -9.2 (Nov22) | -9.2 | -0.6 |
Exchange Rate Index 4 | 86.5 (Dec22) | 88.9 | 79.0 |
1 Monthly average, local index. 2 %. 3 y-o-y, %. 4 Monthly average, January 2006 = 100, $/local currency. | |||
Source: Bloomberg LP; CEIC database; CEIC Database. |
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