Thailand Economic Monitor, January 2019 : Inequality, Opportunity and Human Capital
The outlook for the global economy has darkened amid elevated trade tensions. International trade and investment are moderating, trade tensions remain elevated, and financing conditions are tightening. Global growth is projected to moderate from a...
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World Bank, Bangkok
2019
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| Online Access: | http://documents.worldbank.org/curated/en/154541547736805518/Thailand-Economic-Monitor-Inequality-Opportunity-and-Human-Capital http://hdl.handle.net/10986/31240 |
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okr-10986-312402021-09-17T05:11:20Z Thailand Economic Monitor, January 2019 : Inequality, Opportunity and Human Capital World Bank Group ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS MONETARY POLICY TRADE POVERTY REDUCTION UNEMPLOYMENT RISKS HUMAN CAPITAL INVESTMENT INEQUALITY EDUCATION QUALITY HEALTH NUTRITION The outlook for the global economy has darkened amid elevated trade tensions. International trade and investment are moderating, trade tensions remain elevated, and financing conditions are tightening. Global growth is projected to moderate from a downwardly revised 3 percent in 2018 to 2.9 percent in 2019 and 2.8 percent in 2020-21, as economic slack dissipates, monetary policy tightens in advanced economies, and global trade gradually slows (World Bank Global Economic Prospects, January 2019). Despite external shocks to trade and tourism, growth of the Thai economy is estimated to have accelerated to 4.1 percent in 2018. The economy proved to be resilient in the face of strong global headwinds due to strengthening domestic demand stemming from an upswing in private consumption and private investment. Domestic consumption expanded by 5 percent in 2018Q3, posting the highest growth rate in 22 quarters in a low-inflation environment and record-low unemployment. In addition, private investment grew by 3.9 percent in the third quarter supported by increased spending on construction, machinery and equipment. Strong domestic demand offset partially adverse global factors—the China-US trade dispute—as well as domestic and idiosyncratic factors—such as the Phuket boat tragedy and the high-base effect of gold exports. The Thai economy also owed its resiliency to strong and stable macroeconomic fundamentals. 2019-02-08T16:38:29Z 2019-02-08T16:38:29Z 2019-01-17 Report http://documents.worldbank.org/curated/en/154541547736805518/Thailand-Economic-Monitor-Inequality-Opportunity-and-Human-Capital http://hdl.handle.net/10986/31240 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Bangkok Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work East Asia and Pacific Thailand |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English |
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ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS MONETARY POLICY TRADE POVERTY REDUCTION UNEMPLOYMENT RISKS HUMAN CAPITAL INVESTMENT INEQUALITY EDUCATION QUALITY HEALTH NUTRITION |
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ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS MONETARY POLICY TRADE POVERTY REDUCTION UNEMPLOYMENT RISKS HUMAN CAPITAL INVESTMENT INEQUALITY EDUCATION QUALITY HEALTH NUTRITION World Bank Group Thailand Economic Monitor, January 2019 : Inequality, Opportunity and Human Capital |
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East Asia and Pacific Thailand |
| description |
The outlook for the global economy has
darkened amid elevated trade tensions. International trade
and investment are moderating, trade tensions remain
elevated, and financing conditions are tightening. Global
growth is projected to moderate from a downwardly revised 3
percent in 2018 to 2.9 percent in 2019 and 2.8 percent in
2020-21, as economic slack dissipates, monetary policy
tightens in advanced economies, and global trade gradually
slows (World Bank Global Economic Prospects, January 2019).
Despite external shocks to trade and tourism, growth of the
Thai economy is estimated to have accelerated to 4.1 percent
in 2018. The economy proved to be resilient in the face of
strong global headwinds due to strengthening domestic demand
stemming from an upswing in private consumption and private
investment. Domestic consumption expanded by 5 percent in
2018Q3, posting the highest growth rate in 22 quarters in a
low-inflation environment and record-low unemployment. In
addition, private investment grew by 3.9 percent in the
third quarter supported by increased spending on
construction, machinery and equipment. Strong domestic
demand offset partially adverse global factors—the China-US
trade dispute—as well as domestic and idiosyncratic
factors—such as the Phuket boat tragedy and the high-base
effect of gold exports. The Thai economy also owed its
resiliency to strong and stable macroeconomic fundamentals. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Thailand Economic Monitor, January 2019 : Inequality, Opportunity and Human Capital |
| title_short |
Thailand Economic Monitor, January 2019 : Inequality, Opportunity and Human Capital |
| title_full |
Thailand Economic Monitor, January 2019 : Inequality, Opportunity and Human Capital |
| title_fullStr |
Thailand Economic Monitor, January 2019 : Inequality, Opportunity and Human Capital |
| title_full_unstemmed |
Thailand Economic Monitor, January 2019 : Inequality, Opportunity and Human Capital |
| title_sort |
thailand economic monitor, january 2019 : inequality, opportunity and human capital |
| publisher |
World Bank, Bangkok |
| publishDate |
2019 |
| url |
http://documents.worldbank.org/curated/en/154541547736805518/Thailand-Economic-Monitor-Inequality-Opportunity-and-Human-Capital http://hdl.handle.net/10986/31240 |
| _version_ |
1764473868092702720 |