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Economic Overview

Economic Overview

Economic Overview

In its August 2018 Monetary Policy Report, Thai economy was projected to expand further, recording 4.4 and 4.2 percent in 2018 and 2019, respectively. The upward revision to the previous forecast was on account of a continued improvement in merchandise exports and tourism.

Projection for Growth and Inflation

Percentage Per Year 2017* 2018 2019
GDP Growth 3.9 4.4 4.2
- (4.2) (4.2)
Headline Inflation 0.7 1.1 1.1
- (1.1) (1.2)
Core Inflation 0.6 0.7 0.8
- (0.7) (0.9)
Note : * Actual outturn

( ) Monetary Policy Report of June 2018

More information from the December 2017 Monetary Policy Report can be found at https://www.bot.or.th/English/MonetaryPolicy/MonetPolicyComittee/MPR/Pages/default.aspx.

Source: Bank of Thailand Last updated: August 24, 2018

Monthly Economic Report

The Finance Ministry’s Fiscal Policy Office (FPO) produces a series of reports on the Thai economy. In its August 2018 Fiscal Policy Report, the FPO reported that “The Thai economy in July of 2018 expanded from domestic demand as private consumption showed expanding signs from real VAT collection and passenger car sales. In addition, Consumer Confidence Index (CCI) stood at 69.1 points, highest in 42 months. Meanwhile, the external demand expanded as export values continued to expand. For the supply side, the Agricultural Production Index expanded for the 8th consecutive month. As a result, real income’s farmers expanded for the 5th consecutive month. On the manufacturing sector, the Thai Industries Sentiment Index (TISI) showed the highest expansion in 62 months”

Monthly Economic Report (Q2, 2018)

Growth Rate (% YOY) 2016 2017 2018
(Share of GDP) Q1 Q2 YTD
Real GDP (%YOY) 3.3 3.9 4.9 4.6 4.8
Private Consumption (50.8%) 3.0 3.2 3.7 4.5 4.1
Private Investment (17.6%) 0.5 1.7 3.1 3.2 3.9

Additional detail from the latest month’s Fiscal Policy Report can be found by visiting: http://www.fpo.go.th/main/Economic-report/Thailand-Economic-Projections.aspx

Source: Fiscal Policy Office Last updated: August 24, 2018

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