Asia Regional Integration Center
Tracking Asian Integration
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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