Thailand Economic Outlook
April 24, 2018Data for the first quarter suggests that the economy continues to perform well, following last year’s pick-up in pace. Private consumption grew solidly in January and February accordingly to the Bank of Thailand, while business confidence jumped in the first quarter. High business sentiment was underpinned by momentum in the external sector and manufacturing, according to available data: Exports grew strongly in the first three months of the year, while manufacturing production remained resilient in January and February. On 17 April, the government approved plans to offer tax incentives to commercial banks in Thailand. Work had begun in December on measures to strengthen the fragile banking sector. The plans include tax incentives to facilitate mergers, which should enable Thai commercial banks to better compete with large commercial banks in the region.
Thailand Economic GrowthStrong domestic demand should fuel the economy this year and next. Government expenditure is expected to accelerate on the back of planned infrastructure expenditure, which ought to spill over to private fixed investment. However, export growth should moderate due to a large base effect, and escalating trade tensions between the U.S. and China pose a significant risk. Moreover, high household indebtedness remains a threat to private consumption growth. Political turmoil at home in the build up to general elections by February 2019 could dent investor confidence, dragging on growth. Met the why particular panelists expect the economy to grow 3.9% in 2018, unchanged 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||2.72||0.0 %||May 21|
|Exchange Rate||32.16||0.17 %||May 21|
|Stock Market||1,768||-1.41 %||May 21|
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Thailand Economic News
May 16, 2018
At its 16 May meeting, the Monetary Policy Committee of the Bank of Thailand (BoT) unanimously opted to maintain the one-day repurchase rate at 1.50%.
May 2, 2018
In April, consumer prices in Thailand increased 0.45% over the previous month, contrasting the 0.09% drop in prices seen in March.
April 30, 2018
In the final month of the first quarter, industrial output growth moderated from 4.6% year-on-year in February to 2.6%.
April 23, 2018
In the final month of the first quarter, Thailand’s important external sector recorded its biggest trade surplus in four months, despite a stronger-than-expected moderation in export growth.
April 2, 2018
Consumer prices in Thailand dropped 0.09% over the previous month in March, a softer contraction compared to the 0.23% month-on-month decrease in February.