Asia Regional Integration Center
Tracking Asian Integration
GDP grew by an estimated 0.5% in 2020 as fiscal stimulus remained stable despite a drop in recurrent revenue. Early restrictions on international travel kept the country COVID-19 free but hampered capital projects. The medium-term growth outlook remains positive. GDP is forecast to grow by 2.5% in 2021 and 3.0% in 2022, supported by new infrastructure projects under the government’s 2021–2030 strategic plan. Higher fishing revenue and budget support from development partners helped offset the government’s pandemic-related spending to procure personal protective equipment, repatriate citizens, and cover cash relief payments.
Source: Asian Development Outlook 2021.
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Merchandise Export Growth 1 | -3.6 (Jan22) | -3.6 | 161.2 |
Exchange Rate Index 2 | 98.0 (Apr22) | 98.3 | 102.6 |
1 y-o-y, %. 2 Monthly average, January 2006 = 100, $/local currency. | |||
Source: . |
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