AEIR 2019/2020

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 1 960.5 (Dec19)1.0 931.4
Broad Money Growth 2 11.0 (Jul19)11.0 10.5
Headline Inflation Rate 3 5.2 (Dec19)3.5 3.0
Industrial/ Manufacturing Production Growth Rate 3 6.2 (Dec19)5.5 11.4
Merchandise Export Growth 3 10.2 (Dec19)10.2 4.7
Exchange Rate Index 4 145.6 (Dec19)145.8 146.3
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.

Initiatives / FTAs

News