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
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Thailand Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 30.11 | 0.17 % | Dec 30 |
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Thailand Economic News
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Thailand: Inflation declines to lowest level since March in June
July 5, 2021
Consumer prices increased 0.38% over the previous month in June, swinging from May's 0.93% drop.
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Thailand: Manufacturing activity improves in May
June 28, 2021
Manufacturing output was unchanged month-on-month in seasonally-adjusted terms in May, improving from April’s 0.4% decline.
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Thailand: Merchandise exports grow at a quicker pace in May
June 25, 2021
Merchandise exports soared 41.6% over the same month last year in May, on the heels of April’s 13.1% upturn.
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Thailand: Central Bank holds rates at June meeting; further downgrades growth outlook
June 23, 2021
At its 23 June meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) held the policy rate at the record low of 0.50% for the ninth consecutive meeting.
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Thailand: Inflation moderates in May
June 4, 2021
Consumer prices dropped 0.93% from the previous month in May, swinging from April's 1.38% increase.
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