After a decade of external disruption – which saw the 2008 global financial crisis, floods in 2011 and a military coup in 2014 – Thai industry is getting back on track. According to the Ministry of Industry, the manufacturing production index grew by 2.5% in 2017, with stronger growth in the second half of the year. This trend continued in 2018, with January and February both seeing year-on-...
Thailand Retail
Chapter | Industry & Retail from The Report: Thailand 2018
In its April 2018 Economic Monitor for Thailand, the World Bank reported that GDP growth accelerated to 3.9% in 2017, from 0.91% in 2014, 2.94% in 2015 and 3.23% in 2016. This was the fastest expansion since the 7.24% recorded in 2012, and was driven by strong global growth, increased export revenue and a modest recovery in private consumption.
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In its April 2018 Economic Monitor for Thailand, the World Bank reported that GDP growth accelerated to 3.9% in 2017, from 0.91% in 2014, 2.94% in 2015 and 3.23% in 2016. This was the fastest expansion since the 7.24% recorded in 2012, and was driven by strong global growth, increased export revenue and a modest recovery in private consumption.
Chapter | Industry & Retail from The Report: Thailand 2017
Economic stability, comparatively well-developed infrastructure and competitive investment incentives have attracted a steady flow of financing to Thailand’s manufacturing sector from both foreign and domestic sources, resulting in one of the strongest manufacturing bases in the ASEAN region and the second-largest economy within the trade block. These investments – made initially in basic...
Despite considerable geopolitical volatility, Thailand’s economy remains well diversified, stable and poised for expansion in 2017.
Chapter | Industry & Retail from The Report: Thailand 2016
Having already established itself as a manufacturing hub within South-east Asia, Thailand’s industrial sector is looking to further differentiate itself from other countries by moving up the value chain and expand its capabilities to produce greater value-added products in a variety of modern industries. This strategy seeks to spur industries to progress up the technology ladder from...
The second-largest economy in ASEAN after Indonesia, Thailand has developed a positive international reputation on the back of its pro-investment policies and well-developed infrastructure, standing as one of the most liberalised and business-friendly markets in the region.
Despite the political and social challenges that marked late 2013, Thailand’s economy has remained stable and is poised for further growth in the coming years. However, concerted action by the public and private sectors will be needed for the country to avoid the middle-income trap of stagnating productivity and to maintain its stance as a top Asian economy.