Thailand Economic Outlook
October 17, 2017The economy remains caught between a strong external position, underpinned by a large current account surplus, and a fragile domestic economy. Export growth reached a multi-year high in August, indicating healthy demand for Thai goods. Despite solid import growth, private consumption remains sluggish as high household debt and weak jobs growth eat into consumers’ pockets. Manufacturing output, on the other hand, beat annual growth expectations in August, seemingly putting an end to its hitherto volatile growth trajectory. Moreover, the government unveiled a USD 45 billion investment plan, which will be largely funded through the private sector. Construction on the planned projects is set to start before next year’s elections, which Prime Minister Prayuth Chan-ocha announced will be held in November 2018.
Thailand Economy Data
5 years of Thailand economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.29||1.33 %||Oct 18|
|Exchange Rate||33.05||0.0 %||Oct 18|
|Stock Market||1,708||-0.98 %||Oct 18|
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Thailand Economic Growth
October 17, 2017The robust external sector and sizable public investment should propel the economy next year and in 2019, although private consumption is expected to remain lackluster. A downside risk is the political uncertainty surrounding the election season and the new government. Additionally, high household debt clouds the mid-term outlook. Sound government finances and a strong external position should, however, provide buffers in the event of a shock. FocusEconomics panelists expect the economy to grow 3.5% in 2018, unchanged from last month’s forecast. The panel project 3.4% growth in 2019.
Thailand Economic News
October 9, 2017
Consumer prices in Thailand increased 0.58% over the previous month in September, up from 0.11% in August.
October 6, 2017
At its 27 September monetary policy meeting, the Bank of Thailand (BoT) voted unanimously to maintain the one-day repurchase rate at 1.50%, where it has been for over two years.
September 30, 2017
Manufacturing output increased 3.7% year-on-year in August, which is slightly above the pace of expansion seen in the prior month (July: +3.4% yoy; previously reported: +3.7% yoy) and overshot market expectations of a markedly slower pace of growth.
September 29, 2017
Thailand’s external sector recorded a USD 2.1 billion surplus in August following the first trade deficit since April 2015 in July.
September 2, 2017
Consumer prices increased 0.11% month-on-month in August, contrasting last month’s decrease (July: -0.13% month-on-month).