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Thailand’s Economy expanded 5.8% in fourth quarter

Thailand’s economy contracted only 2.3 per cent in 2009, against the contraction forecast of 3 per cent thanks to the 5.8 per cent expansion in the fourth quarter, according to the National Economic and Social Development Board (NESDB).

Boris Sullivan

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Thailand’s economy contracted only 2.3 per cent in 2009, against the contraction forecast of 3 per cent thanks to the 5.8 per cent expansion in the fourth quarter, according to the National Economic and Social Development Board (NESDB).

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Economy expands 5.8% in Q4

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A steep fall in exports caused by the global trade slump drove down industrial production and investment in the frst half of 2009. Business and consumer sentiment was further undermined by political tensions. Although there were signs the worst had passed by midyear, the economy is expected to contract by more than was projected in March. Modest growth is seen resuming in 2010. The tempo of recovery will depend in large part on the Government fully implementing two fscal packages, including a new public investment program. Those plans would be at risk if political disruptions recur. The consumer price index is now forecast to decline this year, before low-level infation returns next year.

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Imports from new ASEAN member countries also have lower import duties. As part of ASEAN Integration System of Preferences (AISP), tariffs of products such as vinegar, chili, certain vegetables, wood products, and electronic switchboards imported from Cambodia, Myanmar and Lao PDR are either reduced or abolished from September 2008.

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Coronavirus dents optimism with China’s growth forecast down to 5.2%

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Boris Sullivan

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Moody’s has published a report titled “Global Macro Outlook 2020-21 (February 2020 Update): Coronavirus clouds growth outlook just as the economy showed signs of stabilization“, and has revised its global growth forecasts down by two-tenths of a percentage point, now expecting G-20 economies to collectively grow at an annual rate of 2.4% in 2020.

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Economics

Thailand’s growth slips to a 5-year low at 2.4%

Thailand has recorded its slowest economic growth in five years at 2.4% according to the National Economic and Social Development Council (NESDC)

Boris Sullivan

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Thailand’s economy grew by 2.4 per cent in 2019, the National Economic and Social Development Council (NESDC) said on Monday February 17th.

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Economics

Confidence index plummeting on COVID-19 concerns

The Confidence Index for January 2020, scored 45.4 showing the 11th consecutive monthly decline.

National News Bureau of Thailand

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BANGKOK (NNT) – The tourism and export sectors have been hit hard by the outbreak of COVID-19 in China, with a growing number of cases found in Thailand and the region. This has made the latest TCC Confidence Index for January 2020 show a continuous decline from the previous year.

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