Connect with us

Economics

Thai growth slips to 4-year low in Q1

Thailand’s GDP growth slowed sharply to 2.8% year-on-year in the first quarter of 2019 from 3.6% in the previous quarter

Published

on

The National Economic and Social Development Council (NESDC) reported that GDP rose 2.8% year-on-year in the first quarter.

The first quarter outcome is down from a revised 3.6% in the fourth quarter of last year.

It was the slowest growing pace for Thailand’s economy in 17 quarters.

A weak first quarter combined with intensified downside growth risk leads us to cut our 2019 growth forecast to 3.1% from 3.8%.


We expect the Bank of Thailand to join its Asian counterparts in easing with a 25 basis point policy rate cut at the next meeting in June    

THINK Economic and Financial Analysis unit of ING

Thailand’s GDP growth slowed sharply to 2.8% year-on-year in the first quarter of 2019 from 3.6% in the previous quarter.

The MPC recently determined that the economy would expand at a slower pace than the committee’s forecast of 3.8%, largely due to weaker-than-expected merchandise exports and private investment.

Weak domestic demand dents growth

The Office of the National Economic and Social Development Board (NESDB) has indicated that the Thai economic growth in the first quarter was at a sluggish rate of 2.8 percent, prompting the office of revise down its 2019 Thai economic forecast to 3.3-3.8 percent from 3.5-4.5 percent.


Thailand’s GDP growth slowed sharply to 2.8% year-on-year in the first quarter of 2019 from 3.6% in the previous quarter.

A spike in the political risks surrounding the general election weighed on the domestic economy with nearly half of the slowdown in headline growth coming from private consumption and the rest from investments. 

Economics

Recovering global trade supports APAC economies but Tourism exposure will temper Thailand’s rebound

The direct contribution of travel and tourism to Thailand’s economy was around 10% of GDP before the pandemic, but the economic repercussions of a significant slowdown are more widespread given a large informal tourism sector.

Published

on

Export growth better-than-expected in December 2020. However, amid the second wave of COVID-19 infections, exports could fall below previously forecasted levels in 2021.

Moody’s Investors Service says in a new report that a resurgence in coronavirus cases along with low vaccination rates in Asia Pacific (APAC) pose renewed risks to domestic demand, although recovering global trade will support the region’s more export-oriented economies.

(more…)
Continue Reading

Economics

Thai Government Plans to Increase 2022 Investment Budget by 90 Billion baht ($2.84 bln)

According to the 2022 fiscal budget bill, which has public spending set at 3.1 trillion baht, accounting for 17.9% of GDP, the government would need to borrow 700 billion baht to offset the deficit.

Published

on

BANGKOK (NNT) – The Budget Bureau notes that the Thai government plans to increase its investment budget by 90 billion baht in the fiscal year 2022, in compliance with a law related to state financial and fiscal discipline.

(more…)
Continue Reading
Wise

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,106 other subscribers

Recent