AEIR 2021

GDP growth slowed to 1.6% in 2020 from 6.3% in 2019 due to the effects of the COVID-19 pandemic. External demand for hydrocarbons weakened, with growth slowing from 4.1% to 2.0%. Nonhydrocarbon growth also fell, from 8.2% to 1.5%, due the widespread pandemic fallout. On the supply side, growth fell in industry (from 6.9% to 1.3%) and services (7.0% to 1.2%), while agriculture grew from 4.0% to 5.0%. Annual inflation dropped from 13.0% to 10.0%. The current account surplus declined from 1.3% of GDP to 0.5% as exports declined. GDP growth is forecast to recover to 4.8% in 2021 and 4.9% in 2022 as the global recovery boosts prices and demand.

Source: Asian Development Outlook 2021.
Latest Month-Ago Year-Ago
Merchandise Export Growth 1 301.7 (Feb21)301.7 294.5
Exchange Rate Index 2 336.5 (May21)336.5 336.5
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: .

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