Thailand quarterly economic report


Thailand Economic Outlook

September | 2018

September | 2018

Executive Summary

World Economy
  • Global growth has eased but remains robust, although with downside risks. The possibility of financial market stress, escalating trade protectionism and heightened geopolitical tensions continue to cloud the outlook. The pace of expansion in some economies appears to have peaked and growth has become less synchronized across countries. Growth divergences between the United States on one side, and Europe and Japan on the other, are widening. It is forecasted that the global GDP growth will grow 3.9% in 2018 and 2019, compared to 3.8% in 2017.
Euro Zone
  • Growth in the euro area economy is projected to slow gradually from 2.4 percent in 2017 to 2.2 percent in 2018 and to 1.9 percent in 2019.
  • Forecasts for 2018 growth have been revised down for Germany and France after activity softened more than expected in the first quarter, and in Italy, where wider sovereign spreads and tighter financial conditions in the wake of recent political uncertainty are expected to weigh on domestic demand.
  • Asia’s economic growth is forecasted to remains at 5.2% in 2018 due to upward revision for Thailand counters downward revision from Malaysia as GDP growth softened to 5.3% from 5.9% in 2017. Robust domestic demand, particularly for private consumption and investment, continued to support economies in the sub region. Growth in exports added a further boost to the economies of Singapore, Thailand, and Vietnam.
  • GDP growth is predicted at 4.2 % in 2018 compared with 3.2 % from its previous estimate owing to external demand and public investments. Public infrastructure investments by the government (EEC) will continue to attract both private domestic and foreign investments.



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