After a strong start to the year, which saw the economy expand by 4.9% and 4.6% year-on-year (y-o-y) in the first and second quarters, respectively, growth moderated to 3.3% in the third quarter, according to November figures from the National Economic and Social Development Board (NESDB). Seasonally adjusted, the third quarter showed no increase from…
The Asian Development Bank (ADB) has slashed its economic growth forecasts for Thailand to 4.3% this year and 4.1% next year as the global economy sputters. The growth forecast for 2018 was trimmed from 4.5% predicted in September to 4.3% after the third quarter expansion slowed to 3.3% from 4.6% in the second quarter, according…
The Deputy Prime Minister for Economic Affairs has revealed that Thailand’s GDP growth this year is likely to end above four percent and that over 2 trillion baht is to be invested by the state in mega projects next year. Speaking at Thailand’s Economic Outlook 2019, Deputy Prime Minister Somkid Jatusripitak pointed out that if 3.3…
THE SHOPPING tax allowance to be announced next week by the government will satisfy the middle class, but will do little to boost the overall economy, a prominent economist said Wednesday. Anusorn Tamajai, dean of Rangsit University’s Economics Faculty, said the year-end shopping scheme is just a marketing strategy to please middle-class consumers. “It is…
Technological advances and scientific innovations will play a great role in the years to come, and the petrochemical industry is no exception As an extraction technology, fracking is capable of extracting a large quantity of natural gas, which can, in turn, be made into petrochemical raw materials. Technological advances and scientific innovations will play a…
Navigating Uncertainty, the October 2018 edition of the World Bank East Asia and Pacific Economic Update Despite a less favorable external environment, the growth outlook for developing East Asia and Pacific (EAP) remains positive, according to the latest World Bank economic report on the region. Growth in developing EAP is expected to be 6.3 percent…
Thailand’s statistics agency raised its growth forecast for this year to 4.2 percent to 4.7 percent Thailand’s first quarter growth has expanded by 5 year high of 4.8 percent, according to the country’s economic monitoring agency. Deputy Secretary-General of the National Economic and Social Development Board, Wichayayuth Boonchit revealed that the high growth was attributed…
Thailand’s economy has recovered strongly in the first quarter of 2018 supported by healthy growths in the export and tourism sector. Exports in the first three months have jumped up 11.3 percent year on year, representing a seven-year high and it remains a driving force of the economy this year, said Pornpen Sodsrichai, director of…
Thailand has made impressive economic and social progress over the past several decades, but must now take further steps to transform its economy and ensure that prosperity is shared more equally across the country, according to a new report from the Organisation for Economic Co-operation and Development. The Initial Assessment of the Multidimensional Review of Thailand highlights…
THAILAND’s GDP growth 2008-2018 Infogram A spate of public and private positive forecasts have revised up Thailand’s GDP growth projection for 2018 to over 4 per cent. Earlier this week the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) increased the group’s 2018 GDP projection from growth of 3.8-4.5% to 4.0-4.5% after witnessing…