Thailand Economic Outlook
April 26, 2022
Economic momentum likely cooled somewhat in the first quarter of this year, weighed down by higher Covid-19 cases after a healthy GDP rebound in Q4 2021. Private spending and investment fell in month-on-month terms in January and February. In the same period, manufacturing activity weakened compared to Q4 2021. Meanwhile, surging inflation and souring consumer sentiment in the quarter likely took a toll on household spending. In contrast, business sentiment improved in March following subdued readings in the previous two months, and PMI readings signaled continued expansions throughout Q1. Moving to this quarter, authorities relaxed testing rules for visitors in early April, which should support the important tourism sector ahead. Also in early April, authorities furthered price control measures and lessened social security contributions, aiming to support consumers.Thailand Economic Growth
GDP growth should strengthen this year from 2021’s relatively subdued performance. Stronger household spending growth as well as a solid external sector, amid robust manufacturing activity and recovering tourism, will support the economy. That said, reduced fiscal support, higher inflation and China’s Covid-19 policies pose downside risks to the outlook. The FocusEconomics panel sees the economy expanding 3.5% in 2022, which is down 0.2 percentage points from last month’s projections, before growing 4.4% in 2023.Thailand Economy Data
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Thailand Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 30.11 | 0.17 % | Dec 30 |
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Thailand Economic News
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Thailand: Inflation decreases in April
May 11, 2022
Consumer prices rose 0.34% over the previous month in April, below the 0.66% rise recorded in March.
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Thailand: Manufacturing production dips in March
May 3, 2022
Manufacturing output fell 0.8% month-on-month in seasonally-adjusted terms in March (February: +0.3% mom).
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Thailand: Merchandise exports rise at a faster pace in February
April 25, 2022
Merchandise exports soared 16.2% over the same month last year in February, following January’s 8.0% increase.
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Thailand: Inflation comes in at highest level since September 2008 in March
April 8, 2022
Consumer prices rose 0.66% in March over the previous month, coming in below the 1.06% increase recorded in February.
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Thailand: Merchandise exports rise at a faster pace in February
April 1, 2022
Merchandise exports soared 16.2% over the same month last year in February, following January’s 8.0% increase.
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