AEIR 2018

Strong exports and domestic demand pushed GDP growth to 7.1% in 2018, the highest in 11 years. Private consumption, the largest component of GDP, accounted for most of the expansion. Rising incomes and stable inflation underpinned a strong rise in private consumption. Inflation averaged 3.5% in both 2017 and 2018, below the official 4.0% target. A weaker external environment should moderate economic expansion to 6.8% in 2019 and 6.7% in 2020. Growth will continue to be broad-based, underpinned by export-oriented manufacturing, inward FDI, and sustained domestic demand. Given its strong external linkages, small and medium-sized enterprises need to upgrade their capacity to benefit from better integration into global value chains.

Source: Asian Development Outlook 2019, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 980.1 (Aug19)979.1 973.9
Broad Money Growth 2 12.7 (Dec18)12.7 12.8
Headline Inflation Rate 3 2.3 (Aug19)2.4 4.0
Industrial/ Manufacturing Production Growth Rate 3 10.5 (Aug19)9.8 11.3
Merchandise Export Growth 3 4.5 (Aug19)4.5 11.1
Exchange Rate Index 4 145.9 (Aug19)145.9 146.4
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; General Statistics Office.

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