AEIR 2019/2020

After contracting for 2 years, GDP (excluding the large offshore petroleum sector) grew by 3.4% in 2019. Much was due to fiscal stimulus—public spending expanded by 4.3%. Government consumption rebounded strongly, growing by 11.5% after contracting by 1.0% in 2018. Services grew a robust 5.4% in 2019, reversing a 2.6% contraction in 2018. This cushioned the decline in both industry and agriculture. Still, political uncertainty continues to weigh on government activity, especially given the suppressed domestic demand due to the COVID-19 pandemic. The economy may contract by 2.0% in 2020, recovering to 4.0% growth in 2021 on moderate fiscal stimulus and revived private investment.

Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Headline Inflation Rate 1 0.3 (Nov19)0.6 2.8
Merchandise Export Growth 1 -4.8 (Jul20)-4.8 202.1
Exchange Rate Index 2 100.0 (Oct20)100.0 100.0
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: .

Initiatives / FTAs

News