Thailand Economic Monitor, November 2010

Growth has slowed down since the second quarter, but exceeded expectations. Considering the 1) political turmoil; 2) robust growth during the rebound; and 3) slowdown in advanced economies, the Thai economy was expected to contract by more than it...

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Bibliographic Details
Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	Washington, DC 2017
Subjects:	ADVANCED ECONOMIES ADVANCED ECONOMY AGRICULTURE ALTERNATIVE INVESTMENT ASSET PRICE ASSETS BALANCE OF PAYMENTS BALANCE SHEETS BANK LOAN BANK OFFICE BANK SECURITIES BANKRUPTCY BILL BOND BOND MARKET BOND MARKETS BONDS CAPITAL ADEQUACY CAPITAL FLOWS CAPITAL INFLOWS CAPITAL OUTFLOWS CELLULAR SUBSCRIPTIONS CENTRAL BANKS COMMERCIAL BANK COMMERCIAL BANKS COMMODITY COMMODITY PRICES COMMUNICATION TECHNOLOGIES COMPETITIVENESS CONSENSUS FORECASTS CONSOLIDATION CONSUMER CONFIDENCE CONSUMER PRICE INDEX CONSUMPTION GROWTH CORE INFLATION CREDIT BUREAU CREDIT INFORMATION SYSTEMS CURRENCY CURRENCY APPRECIATION CURRENT ACCOUNT CURRENT ACCOUNT SURPLUS DEBT DEFICITS DEMAND GROWTH DEPOSIT DEPOSITORY DEPRECIATION DEVELOPMENT ECONOMICS DIVERSIFICATION BENEFITS DOMESTIC BOND DOMESTIC BOND MARKETS DOMESTIC CONSUMPTION DOMESTIC DEMAND DOMESTIC MARKET ECONOMIC COOPERATION ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIES OF SCALE EMERGING ECONOMIES EMERGING MARKET ECONOMIES EMERGING MARKETS EQUITY PRICES EXCESS CAPACITY EXCHANGE BANK EXCHANGE COMMISSION EXCHANGE RATE EXCHANGE RATES EXPANSION OF WORLD TRADE EXPORT COMPETITIVENESS EXPORT DIVERSIFICATION EXPORT GROWTH EXPORT MARKET EXPORT MARKETS EXPORT PERFORMANCE EXPORT VOLUME EXPORT VOLUMES EXPORTERS EXPORTS EXPOSURE EXTERNAL DEMAND EXTERNAL SHOCKS FINANCIAL ASSETS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL SECTOR FISCAL DEFICIT FISCAL POLICY FIXED CAPITAL FOOD PRICE FOOD PRICES FORECASTS FOREIGN ASSETS FOREIGN CAPITAL FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN OWNERSHIP FOREIGN PORTFOLIO FREE TRADE FREE TRADE AGREEMENT FREE TRADE AGREEMENTS FUTURES FUTURES EXCHANGE GDP GDP PER CAPITA GLOBAL ECONOMIC PROSPECTS GLOBAL ECONOMY GLOBAL LIQUIDITY GOLD GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH POTENTIAL GROWTH RATE GROWTH RATES IMPORT IMPORT CONTENT IMPORT DEMAND IMPORTS IMPORTS GOODS INCOME INCOMES INDUSTRIAL ECONOMICS INFLATION INFLATION EXPECTATIONS INFLATION TARGET INFORMATION TECHNOLOGY INTEREST RATE INTEREST RATE DIFFERENTIAL INTEREST RATE DIFFERENTIALS INTERNATIONAL COMPETITIVENESS INTERNATIONAL RESERVES INVENTORIES INVENTORY LABOR FORCE LEADING INDICATORS LIBERALIZATION LIQUIDITY LOCAL CONTENT LOW INTEREST RATES MACROECONOMIC STABILITY MARKET ACCESS MARKET SHARE MARKET SHARES MIDDLE-INCOME COUNTRIES MONETARY POLICIES MONETARY POLICY MULTINATIONAL COMPANIES NEW PRODUCTS OIL COMMODITIES OIL PRICE OIL PRICES OUTPUT PENSIONS POLITICAL INSTABILITY POLITICAL TURMOIL PORTFOLIO FLOWS POVERTY REDUCTION PRICE INCREASES PRICE INFLATION PRIMARY COMMODITIES PRIMARY MARKET PRIVATE CAPITAL PRIVATE CONSUMPTION PRIVATE INVESTMENT PRODUCTION COSTS PRODUCTIVITY GROWTH PUBLIC DEBT PUBLIC FINANCES PUBLIC INVESTMENT QUOTAS RANGE OF CURRENCIES REAL EFFECTIVE EXCHANGE RATE REAL EFFECTIVE EXCHANGE RATES REAL EXCHANGE RATE REAL GDP RECESSION REGIONAL MARKETS REGULATORY ENVIRONMENT RESERVE REQUIREMENT SAFETY NET SAFETY NETS SAVINGS SECURITIES SLACK SLOW GROWTH SLOWDOWN SOCIAL DEVELOPMENT SOCIAL PROTECTION STOCK EXCHANGE STRUCTURAL CHANGE STRUCTURAL REFORM STRUCTURAL REFORMS SUSTAINABLE GROWTH TARIFF REDUCTION TAX TECHNICAL ASSISTANCE TELECOMMUNICATIONS TOTAL EXPORT TOTAL EXPORTS TOTAL INVESTMENT TRADABLE GOODS TRADE NEGOTIATIONS TRADE REGIME TRADE STATISTICS TRADING PARTNERS TRADING VOLUMES TRADITIONAL MARKETS TRANSPORTATION COSTS TROUGH TURBULENT PERIOD UNCERTAINTIES UNCERTAINTY UNEMPLOYMENT UNEMPLOYMENT RATES VALUE INDEX VENTURE CAPITAL VENTURE CAPITAL INVESTMENTS WAGES WORLD DEVELOPMENT INDICATORS WORLD TRADE WORLD TRADE ORGANIZATION WTO
Online Access:	http://documents.worldbank.org/curated/en/915041468132280656/Thailand-economic-monitor-November-2010 http://hdl.handle.net/10986/27708

Description
Summary:	Growth has slowed down since the second quarter, but exceeded expectations. Considering the 1) political turmoil; 2) robust growth during the rebound; and 3) slowdown in advanced economies, the Thai economy was expected to contract by more than it did in the second and third quarters. The output of the manufacturing sector expanded in the second quarter, led by still-growing exports and robust private consumption. Demand indeed appears to have been higher than production, as some orders had to be filled by drawing down on inventories. However, a sharp contraction in tourism led Gross Domestic product (GDP) overall to contract in the quarter. The FY10 fiscal deficit was much smaller than initially feared when the budget was proposed. The budget for FY10 was prepared at the trough of the global financial crisis in February 2009 and anticipated only 1.35 trillion baht in revenues. Inflation levels have been low and stable but persistent increases in food prices could pose risks. Overall, slower growth in advanced economies will translate into lower GDP growth Thailand for the next two to three years. Notwithstanding a deceleration in the second half because of the waning global inventory cycle, year-on-year growth in 2010 is expected at 7.5 percent due to the low base of 2009 and the strong first half. Quarter-to-quarter growth will pick up modestly in 2011 to average over 4 percent, but the relatively high base in 2010 results in a year-on-year growth rate of 3.2 percent for 2011.

Thailand Economic Monitor, November 2010

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