Regional Heatmap

The CAA Regional Heatmap shows a regional overview and also for individual economies in the region. It provides an efficient and holistic summary of the trends in various economic indicators.

Regional HeatMap (Based on the data as on 14-Dec-2018)
  • Regional
  • China
  • India
  • Indonesia
  • Malaysia
  • Philippines
  • Thailand
  • Vietnam
  • Hong Kong
  • Korea
  • Singapore
  • Taiwan
CN IN ID MY PH TH VN HK KR SG TW
Real GDP6.77.15.24.46.13.37.03.42.02.22.3
 
Demand Conditions
Retail Sales8.1NA3.412.925.312.011.55.22.23.7-0.2
Consumer Confidence122.1NA122.7NA-22.580.5NA82.196.0NA80.1
Motor Vehicle Sales0.1-9.64.70.5-23.426.8NA13.60.8-11.9-29.8
Visitor Arrivals7.71.711.20.26.8-0.521.311.531.14.13.5
Government disbursement (ytd)6.812.711.96.024.815.36.512.99.05.24.5
Foreign Direct Investment12.16.8-20.2-38.46.5-7.3-20.3-57.9-13.662.2120.5
Domestic Investment5.9NA30.519.2-5.32.512.4NA9.4-14.8NA
Capital Goods Imports16.3-15.025.73.221.2-0.26.022.111.411.80.6
Exports4.617.93.717.93.36.88.516.54.58.3-1.3
 
Supply Conditions
Industrial Production6.28.10.63.03.92.311.21.1-6.03.03.1
Purchasing Manager (Index)50.253.150.5NANANANANA51.051.563.6
Business Confidence (Index)122.779.5108.1108.827.292.6NA2.088.82.088.4
Electricity Production6.210.812.13.53.94.29.015.38.70.70.6
Cement ProductionNANA2.6NANA-2.5NANANA2.3NA
Cargo Handled9.55.1-29.05.81.54.113.5-10.09.9-3.37.1
 
Domestic Stability
CPI Inflation2.25.73.20.65.70.93.52.72.00.70.4
Policy rate (%)6.006.505.503.254.751.504.252.501.751.771.375
Real Interbank rate (%)1.03.34.42.2-1.70.51.9-0.10.31.2-0.9
Broad Money (M2)8.610.47.38.08.25.315.41.07.23.03.0
Credit Growth13.113.113.16.016.53.5NA2.06.43.44.7
Non-performing Loans (%)1.77.62.61.71.62.9NA0.90.61.10.3
Unemployment Rate (%)3.8NA5.33.35.11.02.23.53.82.93.7
 
External Resilience
Current Account (% GDP)-0.4-2.3-2.72.6-3.07.78.63.94.619.811.4
Trade bal (3m rolling, USD bn)111.4-48.6-2.58.0-11.43.82.5-18.421.212.15.5
3m % chg in FX reserves-1.5-2.9-0.6-2.3-3.1-0.714.5-0.40.50.00.3
3m % chg in FX rate (vs. USD)-1.3-3.0-1.0-2.20.90.2-0.20.3-0.4-0.4-0.3
Import cover (no. of months)17.19.37.45.68.210.63.18.99.09.519.4
REER0.4-7.8-7.42.92.03.9NA3.13.40.1-0.1
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP6.76.76.76.76.96.96.96.96.86.86.7
 
Demand Conditions
Retail Sales10.29.410.19.48.59.08.89.09.28.68.1
Consumer Confidence Index122.3124.0122.3122.9122.9118.2119.7118.6118.5119.1122.1
Motor Vehicle Sales-4.3-3.60.512.57.7-4.36.06.14.614.50.1
Visitor Arrivals-16.75.21.94.614.8-2.9-5.90.06.31.57.7
Government disbursement (ytd)-7.216.911.110.38.17.87.36.97.57.66.8
FDI Utilized 1.51.4-3.1-5.1-4.5-6.43.014.52.16.212.1
FAI (ytd)7.87.87.47.06.06.05.45.35.45.75.9
Capital Goods Imports (Proxy)6.150.16.124.528.328.612.129.515.117.516.3
Exports9.742.9-3.611.111.410.211.39.014.415.04.6
 
Supply Conditions
Industrial Production (IMF)6.15.75.66.25.95.94.96.86.06.06.2
Purchasing Manager (Index)51.651.350.351.551.451.951.551.251.350.850.2
Business Climate (Index)107.1107.8111.3113.5123.4123.1123.5123.4126.6124.5122.7
Electricity Production5.816.95.0-4.15.316.429.423.1-9.3-10.36.2
Freight Carried-2.013.9-3.86.37.48.56.36.27.28.19.5
 
Domestic Stability
CPI Inflation1.52.92.11.81.81.92.12.32.52.52.2
Policy rate (%)6.006.006.006.006.006.006.006.006.006.006.00
Real Interbank rate (%)3.33.12.72.22.52.31.30.90.80.91.0
Broad Money (M2)9.29.28.88.98.88.59.08.78.88.68.6
Credit Growth13.212.812.812.712.612.713.213.213.213.113.1
Non-performing Loans (%)1.76.22.41.61.11.01.01.01.11.71.7
Unemployment Rate (%)4.044.054.044.023.973.953.953.903.893.833.82
 
External Resilience
Current Account (% GDP)1.90.71.71.53.01.42.10.81.20.8-0.4
Trade bal (3m rolling, USD bn)115.2108.849.157.248.394.894.497.487.694.5111.4
3m % chg in FX reserves1.70.50.1-1.2-0.8-1.0-0.20.0-0.8-2.1-1.5
3m % chg in FX rate (vs. USD)3.14.64.22.0-0.8-2.3-6.7-7.5-6.0-3.0-1.3
Import cover (no. of months)20.119.819.619.218.818.618.217.917.617.117.1
REER-1.1-0.64.54.55.87.36.33.21.81.00.4
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP9.38.17.66.86.15.66.37.07.78.27.1
 
Demand Conditions
Motor Vehicle Sales-13.6-0.312.936.89.18.32.10.511.87.7-9.6
Visitor Arrivals14.38.713.115.84.4-2.62.73.59.1-0.11.7
Government disbursement (ytd)15.613.714.08.3-7.73.08.710.112.713.512.7
Foreign Direct Investment-14.5-3.341.334.10.565.827.731.4-1.694.96.8
Capital Goods Imports-6.6-8.4-2.2-3.4-14.5-1.6-20.4-22.2-3.9-26.0-15.0
Exports15.713.65.3-0.54.320.418.115.719.3-2.217.9
 
Supply Conditions
Industrial Production (IPI)7.37.56.95.34.53.87.06.54.74.58.1
Purchasing Manager (Index)54.752.452.151.051.651.253.152.351.752.253.1
Business Expectations (Index)81.183.280.165.463.772.176.791.085.081.079.5
IPI: Electricity4.47.64.55.92.14.28.56.67.68.210.8
Railway Traffic6.44.13.98.36.24.94.15.23.79.65.1
 
Domestic Stability
WPI Inflation1.22.13.73.93.83.83.43.75.56.55.7
Policy rate (%)6.006.006.006.006.006.006.256.256.506.506.50
Real Interbank rate (%)3.73.73.93.33.73.12.93.03.23.13.3
Broad Money (M3)10.49.99.210.210.49.89.910.89.410.010.4
Credit Growth9.39.412.17.05.48.06.510.79.511.113.1
Non-performing Loans (%)3.52.72.42.22.42.73.44.04.35.97.6
 
External Resilience
Current Account (% GDP)-1.1-0.8-0.5-0.5-0.6-1.2-1.3-1.5-1.9-1.9-2.3
Trade bal (3m rolling, USD bn)-43.9-44.6-41.3-40.8-39.4-42.6-46.6-50.7-53.0-49.4-48.6
3m % chg in FX reserves2.25.84.73.8-0.4-2.0-4.4-4.0-3.0-1.3-2.9
3m % chg in FX rate (vs. USD)2.10.6-1.2-3.2-4.8-4.2-4.6-3.1-6.6-7.1-3.0
Import cover (no. of months)10.911.110.911.010.810.510.29.99.69.69.3
REER3.12.6-0.7-3.1-4.9-4.9-3.6-3.9-4.2-6.2-7.8
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP4.95.25.04.95.05.05.15.25.15.35.2
 
Demand Conditions
Retail Sales-1.81.52.54.18.32.32.96.14.82.93.4
Consumer Confidence126.1122.5121.6122.2125.1128.1124.8121.6122.4119.2122.7
Motor Vehicle Sales11.2-0.8-0.514.17.2-11.425.95.16.412.34.7
Visitor Arrivals3.06.617.428.611.08.215.212.48.59.611.2
Government disbursement (ytd)7.74.010.34.88.37.85.67.78.810.011.9
Investment Realisation: Foreign5.4-3.0-0.2-5.55.415.412.711.411.5-13.5-20.2
Investment Realisation: Dom18.421.616.225.836.616.916.816.411.032.130.5
Capital Goods Imports20.530.232.221.941.443.115.221.918.916.025.7
Exports7.58.612.06.29.613.111.319.74.52.43.7
 
Supply Conditions
Industrial Production4.08.55.52.16.51.9-12.80.50.60.70.6
Purchasing Manager (Index)49.349.951.450.751.651.750.350.551.950.750.5
Business Tendancy (Index)99.5110.2107.9106.7103.4111.6112.4111.0106.3112.8108.1
Electricity Sales17.210.96.65.51.00.11.911.015.620.112.1
Cement Consumption10.15.93.56.03.3-11.112.60.67.46.42.6
Port Cargo Handled7.011.8-5.8-6.1-7.17.85.0-26.29.0-1.5-29.0
 
Domestic Stability
CPI Inflation3.33.23.43.43.23.13.23.22.93.23.2
Policy rate (%)4.254.254.254.254.254.254.254.755.255.255.50
Real Interbank rate (%)1.51.61.62.03.43.63.73.84.14.34.4
Broad Money (M2)8.38.48.37.57.56.05.96.45.96.77.3
Credit Growth8.27.58.28.58.910.210.711.211.912.413.1
Non-performing Loans (%)2.12.42.92.62.11.81.72.12.43.02.6
Unemployment Rate (%)6.35.75.95.86.25.55.65.35.55.15.3
 
External Resilience
Current Account (% GDP)-2.1-2.2-2.2-1.8-1.5-1.4-1.3-1.7-2.0-2.3-2.7
Trade bal (3m rolling, USD bn)1.0-0.8-1.00.3-0.6-2.0-1.4-1.8-1.2-2.6-2.5
3m % chg in FX reserves4.31.7-3.2-5.4-4.0-4.9-5.2-4.1-4.2-2.7-0.6
3m % chg in FX rate (vs. USD)1.1-0.5-1.5-3.2-3.5-2.1-4.4-3.5-5.8-5.3-1.0
Import cover (no. of months)10.09.99.49.28.98.68.38.07.87.57.4
REER-4.8-5.5-7.3-7.9-7.5-7.2-5.8-6.1-5.3-7.0-7.4
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP4.14.04.34.55.65.86.25.95.44.54.4
 
Demand Conditions
Retail Sales7.98.79.09.110.113.512.210.49.29.812.9
Motor Vehicle Sales-15.6-0.2-4.4-6.910.2-15.028.341.026.8-23.70.5
Visitor Arrivals-2.2-8.0-3.10.4-2.0-8.8-3.06.61.85.80.2
Government disbursement (ytd)-1.23.52.10.4-3.10.31.5-0.53.6-4.66.0
Foreign Direct Investment42.6-11.825.423.55.2-0.736.5-14.9-3.011.0-38.4
Manuf Investment Approved4.0-73.6-60.4-39.9-21.7-28.6-13.4-14.18.997.519.2
Capital Goods Imports4.49.30.1-12.73.1-3.57.77.04.4-6.83.2
Exports4.817.9-2.21.913.73.77.89.6-0.36.517.9
 
Supply Conditions
Industrial Production4.53.94.93.65.76.74.73.25.02.83.0
Business Conditions (Index)92.9106.483.981.2112.7114.1103.1101.598.6116.3108.8
Electricity Production3.53.73.92.36.15.62.44.24.05.03.5
Cargo Handled5.4-4.61.96.84.48.46.34.13.18.45.8
 
Domestic Stability
CPI Inflation3.52.71.41.31.41.80.80.90.20.30.6
Policy rate (%)3.253.253.253.253.253.253.253.253.253.253.25
Real Interbank rate (%)-0.4-0.10.20.50.70.91.11.31.61.92.2
Broad Money (M2)4.84.74.96.06.35.55.76.66.37.18.0
Credit Growth4.14.24.54.44.84.95.05.35.45.76.0
Non-performing Loans (%)1.61.61.71.73.42.72.01.81.61.61.7
Unemployment Rate (%)3.33.43.33.33.33.33.43.43.43.33.3
 
External Resilience
Current Account (% GDP)2.62.12.32.42.22.63.03.03.73.32.6
Trade bal (3m rolling, USD bn)6.66.66.68.59.49.26.95.64.06.18.0
3m % chg in FX reserves2.11.85.25.74.6-2.9-4.6-3.7-1.5-2.7-2.3
3m % chg in FX rate (vs. USD)6.56.24.31.7-1.2-2.5-4.2-3.4-3.5-2.7-2.2
Import cover (no. of months)6.36.36.26.46.46.36.05.95.85.85.6
REER5.66.45.96.17.05.24.05.25.23.22.9
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP6.77.07.16.76.56.67.26.56.66.26.1
 
Demand Conditions
Domestic Trade-8.640.239.365.045.6-28.58.83.3-2.96.125.3
Consumer Exp (Current)-6.42.59.28.713.110.29.51.73.8-7.1-22.5
Motor Vehicle Sales4.0-3.2-22.8-11.9-13.7-22.0-24.1-14.1-9.7-9.2-23.4
Visitor Arrivals10.56.416.016.312.04.60.911.35.9-0.66.8
Government disbursement (ytd)10.815.522.825.429.425.020.522.623.323.624.8
Foreign Direct Investment20.311.5-45.0-9.3-12.8-55.061.2-82.8-37.970.46.5
Investment Approved3.397.5-20.4-17.321.829.7105.12.852.4-50.2-5.3
Capital Goods Imports19.623.615.6-8.321.26.827.137.97.923.621.2
Exports8.4-4.0-5.5-6.8-4.9-1.82.80.33.40.83.3
 
Supply Indicators
Industrial Production (Volume)-6.110.815.311.121.113.110.811.88.74.23.9
Business Outlook (Index)48.745.439.839.443.037.943.339.539.330.127.2
Electricity Production5.02.01.89.42.15.43.22.76.710.23.9
Port Cargo Handled8.711.18.97.14.84.81.06.83.20.61.5
 
Supply Conditions
CPI Inflation3.13.43.53.33.34.04.54.85.15.25.7
Policy rate (%)3.003.003.003.003.253.503.504.004.504.504.75
Real Interbank rate (%)-1.7-2.1-2.1-2.1-2.4-2.6-2.5-2.2NA-1.7-1.7
Broad Money (M3)11.913.013.614.414.314.411.811.010.49.88.2
Credit Growth16.717.318.316.918.419.417.317.518.217.916.5
Non-performing Loans (%)3.53.42.62.22.42.01.91.71.6
Unemployment Rate (%)6.15.44.76.65.75.65.05.35.55.45.1
 
External Resilience
Current Account (% GDP)2.10.60.3-0.4-0.7-0.30.1-0.7-0.7-1.7-3.0
Trade bal (3m rolling, USD bn)-9.8-10.4-10.0-8.6-8.9-9.7-10.4-10.4-10.2-10.8-11.4
3m % chg in FX reserves1.00.2-1.3-2.0-1.5-3.7-3.6-1.6-3.3-2.6-3.1
3m % chg in FX rate (vs. USD)1.6-1.5-3.3-3.1-0.8-1.9-2.6-2.1-1.7-1.10.9
Import cover (no. of months)10.210.19.99.99.69.59.18.88.98.48.2
REER-5.2-6.4-8.1-7.4-6.8-5.4-4.7-1.71.51.22.0
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.43.63.13.03.43.94.34.04.94.63.3
 
Demand Conditions
Retail Sales7.24.39.97.93.87.76.17.315.716.412.0
Consumer Confidence80.079.379.980.980.181.382.283.282.381.380.5
Motor Vehicle Sales20.116.210.312.125.227.925.925.727.714.326.8
Visitor Arrivals15.510.919.316.39.46.411.62.83.02.1-0.5
Government disbursement (ytd)0.1-1.5-0.9-0.619.21.439.429.824.717.415.3
FDI Approved ytd-68.4-47.1-50.28.0-31.6-24.4-31.7-27.538.9-27.2-7.3
Private Investment Index0.43.23.10.66.83.46.14.14.8-1.82.5
Capital Goods Imports-0.922.2-5.5-8.4-4.70.00.6-3.25.7-6.7-0.2
Exports-0.65.3-3.0-5.33.85.05.06.75.1-7.06.8
 
Supply Conditions
VAPI-1.10.0-1.81.6-0.33.44.24.6-0.34.12.3
Thai Industry Sentiment (Index)89.191.089.990.789.190.291.793.292.591.592.6
Electricity Production-0.13.20.90.6-1.00.31.72.4-1.0-2.04.2
Cement Consumption-4.9-10.6-3.8-3.62.72.8-5.41.1-4.7-3.4-2.5
Port Cargo Handled5.93.82.70.78.21.02.33.31.1-0.54.1
 
Domestic Stability
CPI Inflation0.70.40.81.11.51.41.51.61.31.20.9
Policy rate (%)1.501.501.501.501.501.501.501.501.501.501.50
Real Interbank rate (%)1.01.11.11.00.90.80.70.60.50.50.5
Broad Money5.05.15.06.25.55.35.15.04.64.85.3
Credit Growth8.17.08.510.58.38.77.04.63.74.83.5
Non-performing Loans (%)2.32.72.92.93.92.92.42.32.32.72.9
Unemployment Rate (%)1.31.31.21.11.01.11.01.01.01.01.0
 
External Resilience
Current Account (% GDP)9.810.912.011.711.110.611.011.010.510.07.7
Trade bal (3m rolling, USD bn)7.06.45.26.65.55.95.86.44.33.43.8
3m % chg in FX reserves7.14.86.40.2-0.1-4.1-4.5-3.8-1.1-1.8-0.7
3m % chg in FX rate (vs. USD)4.14.34.21.8-1.5-3.9-6.3-3.3-0.31.50.2
Import cover (no. of months)12.112.612.312.412.111.811.411.211.010.810.6
REER3.23.13.13.84.14.43.41.43.04.73.9
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP (ytd)5.55.56.06.25.15.76.46.87.47.17.0
 
Demand Conditions
Retail Sales (ytd)9.510.19.99.910.110.711.111.211.311.411.5
Visitor Arrivals (ytd)42.029.730.929.527.627.225.422.822.922.421.3
Government disbursement (ytd)6.76.05.67.211.29.28.88.35.85.66.5
Foreign Direct Investment (ytd)-64.4-31.4-27.3-27.2-16.8-0.32.20.2-3.0-7.8-20.3
State Investment (ytd)16.08.69.78.58.18.79.510.311.312.112.4
Capital Goods Imports (Proxy)30.1-17.8-11.9-25.5-6.1-10.67.15.94.521.86.0
Exports40.28.622.34.511.311.314.818.59.510.88.5
 
Supply Conditions
Industrial Production (IPI)16.35.97.47.58.98.18.413.217.017.211.2
IPI: Electricity16.411.37.26.911.912.29.610.412.013.09.0
Freight Carried9.911.211.812.212.612.913.213.413.613.513.5
 
Domestic Stability
CPI Inflation2.73.22.72.83.94.74.54.04.03.93.5
Policy rate (%)4.254.254.254.254.254.254.254.254.254.254.25
Real Interbank rate (%)0.70.0-0.1-0.3-0.3-0.60.61.20.61.51.9
Broad Money (M2)16.814.917.319.119.817.916.614.414.014.315.4
Unemployment Rate (%)2.32.32.32.32.32.32.22.22.22.22.2
 
External Resilience
Current Account (% GDP)-0.10.57.85.45.84.0-2.8-1.02.12.78.6
Trade bal (3m rolling, USD bn)0.30.12.73.72.61.1-0.72.43.24.62.5
3m % chg in FX reserves-17.7-7.811.910.67.5-3.03.63.65.518.514.5
3m % chg in FX rate (vs. USD)0.20.1-0.1-0.3-0.6-0.6-0.7-0.5-0.5-0.3-0.2
Import cover (no. of months)2.42.42.52.52.52.82.93.13.13.13.1
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.12.31.91.11.82.23.34.33.93.73.4
 
Demand Conditions
Retail Sales (Vol)4.42.428.310.010.911.49.95.98.01.45.2
Consumer Confidence76.477.975.374.673.269.274.777.782.480.682.1
Retail Sales (Motor Vehicle, Vol)-0.522.414.7-4.315.31.78.54.26.6-11.713.6
Visitor Arrivals4.7-2.626.38.911.08.012.85.717.41.811.5
Government disbursement (ytd)0.51.02.01.99.85.915.915.215.013.312.9
Foreign Direct Investment-2.0-74.7-58.1253.837.065.846.2-79.16.2-30.3-57.9
Capital Goods Imports5.422.0-5.63.58.916.90.110.713.94.722.1
Domestic Exports0.15.2-16.2-0.613.912.84.96.313.5-2.916.5
 
Supply Conditions
Industrial Production-0.2-0.4-0.1-0.90.20.40.40.71.01.61.1
Business Situation (Index)-4.0-6.02.0-1.05.06.05.02.08.06.02.0
Electricity Production-10.8-0.3-1.9-0.46.0-2.8-14.35.4-1.34.615.3
Cargo Handled10.44.41.813.1-13.1-2.5-10.9-2.5-1.6-11.0-10.0
 
Domestic Stability
CPI Inflation1.71.73.12.61.92.12.42.42.32.72.7
Policy rate (%)1.751.752.002.002.002.252.252.252.502.502.50
Real Interbank rate (%)-0.2-0.3-0.7-0.7-0.3-0.20.10.0-0.10.1-0.1
Broad Money (M2)10.011.09.47.89.86.25.03.94.74.71.0
Credit Growth16.116.415.715.017.112.010.99.58.47.22.0
Non-performing Loans (%)0.90.91.21.60.80.70.60.50.50.70.9
Unemployment Rate (%)3.43.53.53.43.33.23.13.13.33.43.5
 
External Resilience
Current Account (% GDP)3.34.34.74.24.03.73.94.74.34.13.9
Trade bal (3m rolling, USD bn)-18.4-16.8-17.2-16.6-18.5-18.6-18.4-18.4-19.5-18.7-18.4
3m % chg in FX reserves5.35.12.0-1.6-2.5-1.9-0.6-1.7-1.3-2.0-0.4
3m % chg in FX rate (vs. USD)-0.2-0.2-0.4-0.4-0.3-0.10.00.00.10.10.3
Import cover (no. of months)9.19.29.19.19.39.39.49.29.18.98.9
REER-5.9-7.4-6.3-6.6-6.2-3.7-1.80.22.03.23.1
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.03.52.72.62.92.83.82.82.82.82.0
 
Demand Conditions
Retail Sales (Real)0.51.22.61.41.13.60.98.4-0.26.52.2
Consumer Sentiment Index109.9108.2108.1107.1107.9105.5101.099.2100.299.596.0
Motor Vehicle Sales6.1-16.1-8.9-5.8-1.6-8.9-8.01.4-19.229.60.8
Visitor Arrivals-15.6-21.7-16.510.723.826.629.324.426.118.531.1
Government disbursement (ytd)7.211.611.85.710.611.910.813.411.09.69.0
Foreign Direct Investment19.218.82.1-18.2-9.1-9.1-11.249.828.188.5-13.6
Index of Equipment Investment2.521.59.50.11.6-3.5-14.7-10.1-11.3-19.19.4
Capital Goods Imports9.922.412.74.78.92.9-6.31.1-6.5-13.811.4
Exports22.33.15.5-2.012.8-0.46.18.7-8.122.64.5
 
Supply Conditions
Industrial Production (IPI)6.73.31.90.3-0.4-0.32.38.7-6.3-1.7-6.0
Purchasing Manager (Index)49.950.750.349.148.448.949.848.349.951.351.0
Business Conditions (Index)98.293.393.891.292.092.592.593.684.490.588.8
IPI: Electricity3.73.92.74.84.710.51.01.05.69.38.7
Cargo Handled1.9-5.50.6-6.83.010.40.25.61.48.09.9
 
Domestic Stability
CPI Inflation1.01.41.31.61.51.51.51.41.92.02.0
Policy rate (%)1.501.501.501.501.501.501.501.501.501.501.75
Real Interbank rate (%)-0.2-0.2-0.1-0.10.00.00.10.20.20.30.3
Broad Money (M2)5.16.45.96.05.66.56.86.76.46.07.2
Credit Growth5.65.85.96.36.26.46.46.36.56.46.4
Non-performing Loans (%)0.50.60.60.60.60.60.6
Unemployment Rate (%)3.63.64.03.84.03.73.84.24.03.93.8
 
External Resilience
Current Account (% GDP)8.08.07.47.06.35.55.65.14.54.54.6
Trade bal (3m rolling, USD bn)16.711.812.715.418.918.519.219.823.322.921.2
3m % chg in FX reserves2.91.91.90.71.10.91.00.50.70.10.5
3m % chg in FX rate (vs. USD)5.81.91.2-0.20.2-2.3-5.1-4.1-2.3-0.8-0.4
Import cover (no. of months)9.89.69.69.69.59.49.49.39.39.19.0
REER3.63.0-1.4-1.40.31.01.61.03.25.13.4
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP2.12.01.73.72.52.85.53.64.64.12.2
 
Demand Conditions
Retail Sales (constant)-2.72.52.10.71.61.13.1-1.5-1.54.03.7
Motor Vehicle Registrations-26.0-15.3-18.82.6-11.926.8-30.0-23.14.5-5.6-11.9
Visitor Arrivals4.25.69.67.05.07.811.36.27.97.24.1
Government disbursement (ytd)33.929.621.819.2-7.5-3.9-2.2-1.88.41.65.2
Foreign Direct Investment17.7-0.5-5.817.829.6-49.2-19.4-7.2-23.528.962.2
Net Invest Commit (Manuf)-10.6-53.3-40.337.3-44.6165.0-70.835.7-74.8-5.2-14.8
Capital Goods Imports (Proxy)2.4-1.22.23.913.17.54.312.28.66.811.8
NODX3.112.9-6.0-3.111.815.50.810.95.08.18.3
 
Supply Conditions
Industrial Pdn (Excl. Biomed Mfg)6.320.47.79.310.211.37.16.64.02.03.0
Purchasing Manager (Index)53.152.753.052.952.752.552.352.652.451.951.5
Business Expectations (Index)3.0-9.07.0-4.016.09.06.010.024.05.02.0
Electricity Production0.40.30.83.14.72.41.41.30.6-0.90.7
Cement Demand-14.2-3.8-26.3-13.4-14.9-17.2-2.2-9.4-6.2-8.22.3
Sea Cargo Handled4.21.31.3-1.8-1.01.54.33.5-4.7-0.6-3.3
 
Domestic Stability
CPI Inflation0.40.00.50.20.10.40.60.60.70.70.7
Policy rate (3m SIBOR, %)1.131.371.451.511.511.521.631.641.641.641.77
Real Interbank rate (%)0.90.60.91.01.11.11.11.21.21.21.2
Broad Money (M2)3.23.43.62.73.22.82.62.63.63.43.0
Credit Growth5.65.43.75.45.75.55.95.55.64.53.4
Non-performing Loans (%)0.91.11.12.01.41.11.00.90.80.91.1
Res Unemployment Rate (%)2.73.02.93.23.23.13.13.02.82.92.9
 
External Resilience
Current Account (% GDP)16.318.018.920.520.219.419.017.819.420.419.8
Trade bal (3m rolling, USD bn)9.810.810.912.012.413.212.210.010.710.512.1
3m % chg in FX reserves2.31.12.61.91.80.30.50.51.10.40.0
3m % chg in FX rate (vs. USD)2.82.62.30.4-1.5-2.5-3.6-2.2-1.7-1.2-0.4
Import cover (no. of months)10.210.210.210.310.110.09.99.89.79.79.5
REER-0.3-0.7-1.1-1.3-1.2-0.7-0.4-0.60.20.10.1
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP-0.11.22.12.82.92.53.43.53.23.32.3
 
Demand Conditions
Retail Sales2.3-5.013.23.51.63.63.51.8-0.91.3-0.2
Consumer Confidence87.787.487.986.985.683.882.482.683.582.080.1
Motor Vehicle Sales-6.8-19.5-2.4-19.55.3-4.4-6.3-25.8-23.4-23.1-29.8
Visitor Arrivals7.25.88.09.4-4.72.42.62.44.82.03.5
Government disbursement (ytd)0.2-26.3-4.5-1.90.42.81.00.21.02.74.5
Foreign Investment Approved247.3-0.4342.486.9-38.8-82.8-53.5373.120.1102.1120.5
Capital Goods Imports22.32.07.17.54.66.315.813.810.110.80.6
Exports7.3-7.010.75.612.68.65.03.44.89.4-1.3
 
Supply Conditions
Industrial Production0.83.31.93.15.02.71.41.410.7-2.23.1
Purchasing Manager (Index)58.757.659.058.858.757.757.258.059.050.463.6
Mfg Sentiment (Index)98.8100.298.2100.098.3101.5100.4101.598.393.588.4
Electricity Consumption3.60.54.6-2.33.63.54.63.32.91.50.6
Cargo Handled-5.20.3-5.4-2.60.45.12.39.10.43.17.1
 
Domestic Stability
CPI Inflation1.81.41.71.81.61.81.91.91.91.40.4
Policy rate (%)1.3751.3751.3751.3751.3751.3751.3751.3751.3751.3751.375
Real Interbank rate (%)-0.5-0.5-0.5-0.6-0.7-0.8-0.9-0.9-1.0-1.0-0.9
Broad Money (M2)3.63.23.63.53.54.03.83.73.23.33.0
Credit Growth4.44.24.55.04.75.25.74.84.64.94.7
Non-performing Loans (%)1.81.51.10.60.40.40.40.20.20.30.3
Unemployment Rate (%)3.703.683.703.673.693.693.683.693.693.703.70
 
External Resilience
Current Account (% GDP)15.414.313.613.713.112.813.514.413.112.211.4
Trade bal (3m rolling, USD bn)8.05.85.76.87.46.54.54.73.85.05.5
3m % chg in FX reserves1.81.41.30.30.10.00.30.60.70.40.3
3m % chg in FX rate (vs. USD)2.82.82.50.1-2.1-3.0-4.0-2.8-2.1-1.1-0.3
Import cover (no. of months)20.820.820.720.620.420.219.919.819.619.419.4
REER1.10.1-0.8-1.9-1.9-2.7-1.6-0.60.20.8-0.1

Source: Centennial Asia Advisors using CEIC Database and Markit PMI press release

Note1: Figures in % y/y unless otherwise stated

Note2: Bright green refers to positive conditions 2 s.d. above/below the 2 yr mean

Note3: Dark red refers to negative conditions 2 s.d. above/below the 2 yr mean

Note4: NPLs refer to annual data compiled by the World Bank, based on 10yr mean