AEIR 2019/2020

The economy recorded another stellar year, with growth slipping marginally to 7.0% in 2019 from the record 7.1% growth in 2018. The expansion was underpinned by strong domestic demand, resilient manufacturing, and solid foreign direct investment. Inflation eased to a 3-year low, averaging 2.8% in 2019, but it is projected to rise moderately in 2020 and 2021. The current account surplus expanded to an estimated 5.0% equivalent of GDP from 2.4% in 2018, supported by a large trade surplus and stable remittances. The impact of the COVID-19 and the abrupt global slowdown will slash growth to 4.8% in 2020, before returning to robust growth in 2021.

Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 1.0 (Dec20)968.7 960.5
Broad Money Growth 2 12.0 (Jul20)12.0 11.7
Headline Inflation Rate 3 0.2 (Dec20)1.5 5.2
Industrial/ Manufacturing Production Growth Rate 3 9.5 (Dec20)9.2 6.2
Merchandise Export Growth 3 17.6 (Dec20)17.6 10.7
Exchange Rate Index 4 145.3 (Dec20)145.6 145.6
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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