Thailand Economic Outlook
November 14, 2017The military junta announced that elections will be held in November of next year, against a backdrop of a robustly growing economy supported by the external sector and tourism. The domestic economy also continues to show signs of recovery. Tourist arrivals were up markedly in the first eight months of the year on an annual basis, and robust external demand boosted exports throughout Q3. Indicators suggest that the improvement in the external sector is spilling over to the domestic economy. Manufacturing output and private investment logged their third consecutive monthly annual growth rates in September, although the latter’s pace of expansion remains fragile. Business sentiment dropped markedly in October; however, it remains in positive territory. Moreover, private consumption increased throughout Q3. Consumer confidence climbed for the third consecutive month in October, boding well for private consumption going forward.
Thailand Economic GrowthLarge public investments and solid foreign demand are expected to buttress the economy next year and in 2019. Growth is, however, expected to moderate as external demand slows; the external sector has benefitted from a notable base effect. Private consumption is showing signs of revival, but remains lackluster, as households are suffering from high levels of indebtedness. Furthermore, the upcoming election cycle could dent economic activity and confidence levels. FocusEconomics panelists expect the economy to grow 3.5% in 2018, unchanged from last month’s forecast. The panel projects 3.4% growth in 2019.
Thailand Economy Data
5 years of Thailand economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.37||0.0 %||Dec 06|
|Exchange Rate||32.57||0.17 %||Dec 06|
|Stock Market||1,694||-1.41 %||Dec 06|
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Thailand Economic News
December 1, 2017
Consumer prices in Thailand increased 0.07% over the previous month in November, down from a 0.16% increase in October.
November 30, 2017
Manufacturing output decreased a marginal 0.1% in October in annual terms, sharply contrasting the previous month’s revised 4.6% expansion (previously reported: +4.2% year-on-year).
November 30, 2017
Thailand’s external sector recorded a USD 210 million surplus in October, coming in slightly below the USD 260 million surplus registered in the same month a year ago.
November 20, 2017
Economic growth again stepped up in the third quarter, expanding a robust 4.3% year-on-year, the quickest acceleration since Q1 2013.
November 8, 2017
At its 8 November monetary policy meeting, the Bank of Thailand (BoT) unanimously voted to uphold the one-day repurchase rate at 1.50%, where it has been for over two years.