Thailand Economic Outlook
November 17, 2020The 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 GrowthThe 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
5 years of Thailand economic forecasts for more than 30 economic indicators.
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|Exchange Rate||30.11||0.17 %||Dec 30|
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Thailand Economic News
January 5, 2021
Consumer prices increased 0.15% in December over the previous month, contrasting November's 0.04% fall.
December 28, 2020
Manufacturing output declined 1.0% in month-on-month seasonally-adjusted terms in November, which contrasted October's 3.1% increase.
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.
December 20, 2020
Merchandise exports ticked down 3.6% in annual terms in November, following October’s 6.7% dive.
December 4, 2020
Consumer prices dropped 0.04% over the previous month in November, swinging from the 0.05% rise logged in October.