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 (Apr18)1.0 1.0
Broad Money Growth 2 6.2 (Mar18)6.2 5.0
Headline Inflation Rate 3 1.1 (Apr18)0.8 -2.7
Industrial/ Manufacturing Production Growth Rate 3 2.4 (Dec17)4.1 0.5
Merchandise Export Growth 3 7.1 (Mar18)7.1 10.3
Exchange Rate Index 4 79.2 (Apr18)79.1 87.2
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.