Thailand Economic Outlook

Perspectives

Thailand Economic Outlook 2020: Special Edition

Executive Summary

Global economic growth continues to slow down due to the uncertainties and risks in global situations in particular US and China trade tensions.

This has impacted the global trade and investment and significantly dampens medium-term prospects for growth.

Global economic growth is forecast at 3.0 percent for 2019, its lowest level since 2008–2009 and projected to pick up to 3.4 percent in 2020.

For ASEAN, the economic growth was forecasted to increase by 4.7% in 2020 mainly due to the growth from Indonesia, Myanmar, Lao P.D.R. and Philippines.

For Thailand, GDP was expected to grow at 2.8% in 2019 and 2020.

As several ongoing global challenges especially the ongoing trade war will triggered a Thai export slump, resulting in a domino effect on other domestic sectors of the economy.

 

 

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