Thailand’s economic growth in the second quarter of 2019 decelerated at 2.3%YOY, which is the slowest rate in nineteen quarters.
This was significantly due to a drop in exports, both goods and services. For production side, agricultural sector contracted by drought effect while industrial sector’s deteriorated following the export-related production.
EIC assesses 2019 Thailand’s GDP growth would below 3% from global economic slowdown. However, fiscal stimulus packages , which should be approved by the cabinet, are able to positively affect Thailand’s GDP.
|Based on the expenditure approach, exports and tourism pulled down the growth while private consumption progressively expanded.|
Author: Kampon Adireksombat, Ph.D. ,Panundorn Aruneeniramarn and Jirayu Photirat
Thailand’s Q2 growth rate at 2.3%, lowest in 19 quarters
Thailand’s economic think-tank warned that something must be done quickly by the government, otherwise the economic situation will get worse.
Thailand’s four challenges : Debt, inequality, plastics and climate change
Thais tended to get into debt faster, for longer and for higher amounts. Indebtedness starts as soon as they begin to work at age 25 and can increase until 56 years old.
Bank of Thailand Governor Veerathai Santiprabhob, in his speech entitled “Formulating for the Future of Corporate Governance”, delivered at the Finance and Beyond National Director Conference 2019 in Bangkok (July 24th), said Thailand faces four challenges that require good governance in businesses to address.(more…)
Exports contracted by -2.1%YOY in June, or -8.7% without Gold
With the exception of military arms and weapons reshipment to the USA in February, Thai exports value has shrunk continuously for the past 8 months, and the first half of 2019 showing a decline of -4.4%YOY.
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