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 11.2% of GDP. Annual GDP growth is revised upward to 4.5% this year from initial estimates of 4.0% and to 4.3% in 2019 from the initial 4.1% growth forecast, as inflation stirs mildly towards annual average of 1.3% and the current account surplus narrows to 8.0% of GDP. The revisions reflect strong external and domestic demand underpinned by upbeat consumer sentiment and the public infrastructure development program. External risks to the economic outlook include slowing down of global trade due to escalating global trade tensions and a sudden capital flight due to tightening global monetary policies.

Source: Asian Development Outlook 2018 Update, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 1.0 (Sep18)1.0 1.0
Broad Money Growth 2 4.6 (Aug18)4.6 5.0
Headline Inflation Rate 3 1.3 (Sep18)1.6 -2.2
Industrial/ Manufacturing Production Growth Rate 3 2.4 (Dec17)4.1 0.5
Merchandise Export Growth 3 6.7 (Aug18)6.7 8.3
Exchange Rate Index 4 82.5 (Sep18)83.5 83.8
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.