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.
The banking sector experienced mixed results in 2017. Although bank loans and asset quality benefitted from the country’s ongoing economic recovery – with operating profits rising as a result – high provisioning costs and preparations for the new accounting standards that take effect in 2019 saw net profits decline for many larger commercial banks. The sector is resilient, well capitalised and...
Macroeconomic recovery in Thailand gained momentum in 2017, with GDP growth hitting a five-year high on the back of a positive performance in...
With roughly 7.1trn cu feet of natural gas at the end of 2017, down from 10.6trn cu feet in 2007, according to the 2018 “BP Statistical Review of World Energy”,...
Steadily improving macroeconomic growth and shifting demographics are creating favourable conditions for the expansion of Thailand’s insurance industry, with reforms aimed at boosting foreign participation supporting a bright outlook for the remainder of 2018. The life insurance segment continues to dominate the country’s insurance landscape, accounting for the bulk of premium and...
Bolstered by improved political stability, positive growth and consumption outlooks, and rising investor confidence, market capitalisation in Thailand rose to pre-1997-98 Asian financial crisis levels for the first time in early 2018 as the Stock Exchange of Thailand (SET) Index hit an all-time high in January. Capital markets authorities have moved to position Thailand as the de facto...
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-...
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