Thailand Economic Outlook
March 20, 2018Last year’s economic momentum seems to have carried over into the new year with merchandise exports and tourism growing solidly in January. This suggests that the strong performance in the external sector continued after having picked up slack from subdued domestic demand last year. Private consumption started 2018 on a strong note with an across-the-board expansion in annual terms although household spending remained fragile. The manufacturing sector was supported in January by private consumption and the external sector, and saw a strong rise in new orders.
Thailand Economic GrowthEconomic growth should remain robust this year on the back of a pickup in government consumption and fixed investment, while private consumption growth is expected to remain solid and export growth will likely moderate due to a large base effect. Although the high level of household debt remains a concern, the chief downside risks to the economy are tense geopolitical situation and U.S. trade policies, which could spark a global trade war. Additionally, Thailand could face greater scrutiny since it met the United States’ criteria as a currency manipulator. Domestic political turmoil in the build up to this year’s elections could also dent investor confidence. FocusEconomics panelists expect the economy to grow 3.9% in 2018, up 0.1 percentage points from last month’s forecast. The panel projects growth of 3.7% in 2019.
Thailand Economy Data
5 years of Thailand economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.44||0.0 %||Mar 22|
|Exchange Rate||31.14||0.17 %||Mar 22|
|Stock Market||1,799||-1.41 %||Mar 22|
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Thailand Economic News
March 23, 2018
In February, export growth came down from the prior month’s multi-year high, but beat expectations.
March 2, 2018
Consumer prices in Thailand dropped 0.23% over the previous month in February, contrasting a 0.07% month-on-month increase in January.
February 28, 2018
Manufacturing output expanded 3.4% in January on an annual basis, up from December’s 2.3% expansion.
February 21, 2018
Thailand recorded a USD 120 million deficit in January, swinging from the USD 830 million surplus registered in the same month of last year but notably above the USD 280 million deficit clocked in December 2017.
Thailand: Despite slowdown in the final quarter, the economy grew at fastest clip in 2017 in five years
February 19, 2018
The momentum in the Thai economy slowed somewhat in the final quarter of 2017.