AEIR 2021

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 (Jan21)1.0 971.7
Broad Money Growth 2 -99.9 (Sep20)-99.9 -99.9
Headline Inflation Rate 3 -1.0 (Jan21)0.2 6.4
Industrial/ Manufacturing Production Growth Rate 3 22.2 (Jan21)9.5 -8.0
Merchandise Export Growth 3 50.5 (Jan21)50.5 22.8
Exchange Rate Index 4 145.0 (Jan21)145.3 145.6
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.

Initiatives / FTAs

News