Thailand Economic Outlook
June 19, 2018National accounts data showed the economy continued to enjoy a strong run in the first quarter, growing at the quickest pace in five years. This was largely due to strong activity in the domestic economy as private consumption benefitted from an increase in non-farming income. In addition, the external sector remained solid despite a moderation in export growth and a pick-up in import growth on the back of a strong domestic economy. Data for Q2 continues to suggest that the domestic economy is gaining traction, while the external sector is softening slightly. In April, manufacturing growth accelerated, while the country recorded its second trade deficit of the year, owing to strong import growth outpacing double-digit export growth.
Thailand Economic GrowthAlthough growth is expected to moderate in the coming quarters, economic growth should remain robust this year due to healthy domestic demand. Export growth is, however, likely to ease due to a large base effect. Looking to 2019, a tight fiscal stance as outlined in the recent draft budget could drag on growth. Risks to the outlook stem from rising trade tensions, mostly coming out of the United States. Furthermore, high household indebtedness and political uncertainty in the lead up to elections to be held no later than February 2019 could drag on economic prospects. Met the why particular panelists expect the economy to grow 4.2% in 2018, which is up 0.3 percentage points from last month’s forecast. The panel projects growth of 3.8% in 2019.
Thailand Economy Data
5 years of Thailand economic forecasts for more than 30 economic indicators.
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|Bond Yield||2.63||0.0 %||Jul 13|
|Exchange Rate||33.20||0.17 %||Jul 13|
|Stock Market||1,644||-1.41 %||Jul 13|
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Thailand Economic News
June 29, 2018
In annual terms, manufacturing output grew 3.2% in May, up from the prior month’s revised 3.1% year-on-year growth rate (previously reported: +4.0% year-on-year).
June 25, 2018
Thailand’s external sector rebounded from the USD 1.3 billion trade deficit registered in April to a USD 1.2 billion surplus in May, chiefly due to weaker import growth.
June 20, 2018
At its 20 June meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) voted 5 to 1 to maintain the one-day repurchase rate at 1.50%, where it has been for over three years.
June 1, 2018
Consumer prices decreased 0.09% over the previous month in June, contrasting the 0.56% increase recorded in May.
May 31, 2018
Manufacturing growth accelerated from a revised 3.2% year-on-year in March (previously reported: +2.6% year-on-year) to 4.0% yoy in April.