AEIR 2017

With the turnaround in exports and agriculture, economic growth improved in 2017 to 3.9% from 3.3% in 2016. Inflation remained low at 0.7%, and the current account surplus swelled to 10.8% of GDP. Annual GDP growth is expected at 4.0% this year and 4.1% in 2018, as inflation stirs mildly and the current account surplus narrows. A worsening skills shortage needs to be addressed to reinvigorate growth and achieve the goals of the government’s Thailand 4.0 development strategy. External risks to the economic outlook include a weak global economic recovery, a possible delay in implementing the government’s ambitious public infrastructure investment program, and uncertainty regarding the timing of the next general election which may affect recovery in private investment.

Source: Asian Development Outlook 2018, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 1.0 (Jul18)1.0 1.0
Broad Money Growth 2 5.3 (Jun18)5.3 5.3
Headline Inflation Rate 3 1.5 (Jul18)1.4 -2.9
Industrial/ Manufacturing Production Growth Rate 3 2.4 (Dec17)4.1 0.5
Merchandise Export Growth 3 8.2 (Jun18)8.2 11.4
Exchange Rate Index 4 84.2 (Jul18)82.1 85.3
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database; Bank of Thailand; Customs Department.