ASP: 15% Q2 contraction possible Thailand’s economy could contract by 15% year-on-year in the second quarter from lockdown measures, with rising contagion risk affecting economic activities on the external front, says Asia Plus Securities (ASP). “Second-quarter GDP is likely contract for both quarter-on-quarter and year-on-year figures because of the country’s lockdown measures against the pandemic,”…
Thai GDP drops nearly 2% in first quarter The Thai economy’s slumped by nearly 2% year-on-year during Q1, 2020. In it’s full-year forecast, the National Economic and Social Development Council forecasts that the Thai GDP would drop 5-6% for the year. As a comparison, the economy tanked 7.6% during the 1997 financial crisis. The Gross Domestic Product…
IMF sees Thailand’s growth down 6.7 percent in 2020 The impact of the coronavirus on the Asia Pacific region will be severe and unprecedented says IMF, and Thailand could stand as the worst performer with a 6.7% GDP drop. Covid-19 crisis could be worse than the Global Financial Crisis, and Asia is not immune, says…
Thailand’s export to contract by 7% in 2020 Thailand’s exports could shrink as much as 7% in 2020 showing its worst performance in a decade, or 3.7% if the Covid-19 crisis is contained before September. The Bank of Thailand and the Center for International Trade Studies at the University of the Thai Chamber of Commerce…
BOT predicts 5.3% contraction in Thai economy for 2020 Even the Thai economy, which was still maintaining respectable growth before January, is now spluttering under the siege of the Covid-19 virus. Now the Bank of Thailand has crunched some numbers and believes the Thai economy will sharply contract by 5.3% this year as the virus…
US Treasury mulls putting Thailand on its ‘watchlist’ as a currency manipulator Thailand’s trade surplus with the US has now exceeded US$20 billion. Bloomberg reports that this could trigger the Thai currency to be added to the US Treasury’s watchlist of “currency manipulators”. According to US Census Bureau data, the surplus reached US$20.05 billion in…
Bank of Thailand projects 2.8% economic growth for 2020 The overall national economic growth in 2020 is now projected to be 2.8% from the anticipated recovery of the export and investment figures The Bank of Thailand has announced a 2.8% growth projection for the Thai economy in 2020 thanks to a better performing export sector.…
Thai economy continued to be on a decelerating trend (Bank of Thailand) The Thai economy continued to be on a decelerating trend in October, although private consumption indicators expanded and foreign tourist arrivals continued to expand. According to Bot latest Press Release, the Thai economy continued to be on a decelerating trend in October. The value of…
Thailand may lift ban on foreign investors for some innovation sectors Thailand’s Commerce Ministry is considering whether to remove certain innovation-related businesses from the list of those open only to Thai citizens. The idea is being floated as a way of increasing foreign investment in Thailand, making the country a more attractive option for overseas…
Baht to climb higher against USD, more pressure on exports The Thai baht is set to soar further as one side effect of the latest escalation of the China-US trade war. Economists say the latest tit-for-tat trade sanctions will hasten foreign capital inflows into Thailand’s “safe haven” bond market while the US Federal Reserves may…