AEIR 2019/2020

The economy rebounded to 3.5% growth in FY2019 with large gains in general commerce and smaller contributions from construction, food and beverage manufacturing, hotels, and restaurants. Visitor arrivals had another strong year, growing by 9.3%. The economy is expected to contract by 3.0% in FY2020 from the combined impact of a measles outbreak and COVID-19 on tourism. FY2021 will be similarly affected, with GDP expected to grow by only 0.8% as tourism recovers only slowly, but with positive contributions from communications and agriculture.

Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Headline Inflation Rate 1 -5.8 (Oct20)-4.1 0.9
Merchandise Export Growth 1 -41.9 (Sep20)-41.9 -50.5
Exchange Rate Index 2 107.9 (Dec20)105.6 103.1
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: .

Initiatives / FTAs