Thailand Economic Outlook
November 17, 2020
The economy looks likely to have contracted at a slower pace in Q3 than in Q2, as the easing of coronavirus-induced lockdowns should have supported an uptick in domestic activity. However, ongoing travel restrictions affecting the all-important tourism sector, supply chain disruptions and weak foreign demand are likely to have weighed heavily on the external sector. Turning to Q4, the panorama remains subdued: Business sentiment turned more pessimistic in October, and while the PMI signaled a marginal expansion in manufacturing conditions in the same month, firms reported a decline in exports, reflecting a still-weak external trading environment. In the political arena, protestors calling for the resignation of the prime minister rejected a parliament-initiated reconciliation plan on 4 November and are planning fresh rallies in coming weeks, in a continuation of unrest that is likely to dampen domestic demand in Q4.Thailand Economic Growth
The economy is projected to recover in 2021, after contracting sharply in 2020. Domestic demand is set to rebound strongly on improving household and capital spending. The recovery in activity in key external markets should buoy exports, although the prolonged nature of the pandemic and its impact on the tourism sector remains a key downside risk. The FocusEconomics panel sees the economy expanding 4.4% in 2021, which is up 0.1 percentage points from last month’s projections, before growing 4.4% again in 2022.Thailand Economy Data
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Thailand Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 30.11 | 0.17 % | Dec 30 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Thailand Economic News
-
Thailand: Consumer prices record smallest fall since February in December
January 5, 2021
Consumer prices increased 0.15% in December over the previous month, contrasting November's 0.04% fall.
-
Thailand: Manufacturing production records largest monthly drop in six months in November
December 28, 2020
Manufacturing output declined 1.0% in month-on-month seasonally-adjusted terms in November, which contrasted October's 3.1% increase.
-
Thailand: Central Bank keeps rate at record low for fifth meeting running in December
December 23, 2020
At its 23 December meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) held the policy rate at the record low of 0.50% for the fifth consecutive meeting, having cut it by 75 basis points since the beginning of 2020.
-
Thailand: Merchandise exports fall at a softer pace in November
December 20, 2020
Merchandise exports ticked down 3.6% in annual terms in November, following October’s 6.7% dive.
-
Thailand: Consumer prices record smallest fall since February in November
December 4, 2020
Consumer prices dropped 0.04% over the previous month in November, swinging from the 0.05% rise logged in October.
© Copyright: 2021. | Thailand Economy | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
