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Thailand: Economic trends and policy issues

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Frame of Image eclined sharply since the 1990s…
GDP per capita (PPP 2011 dollars) and Poverty rate
7000 6000 5000 4000 3000 2000 1000 0 45 40 35 30 25 20 15 20 70 60 50 40 30
… supported by robust policy frameworks
Public debt (percent of GDP) and FX reserves (months of imports, RHS)
20 18 16 14 12 10 8
6
4
10
5 0 10 0
2 0
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1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Thailand
Middle Income Avg
Poverty rate
Public sector debt
FX reserves in prospective imports
Source: WDI
INTERNATIONAL MONETARY FUND
Source: Authorities’ data; staff calculations
2020
4
Increasingly diversified exports and tourism have driven economic growth
Tourism has grown rapidly in recent years
Exports and tourism
(In percent of GDP)
80 70 Exports Tourism GDP growth (RHS) 10 8 6
Exports have become more diversified with higher value added
Economic complexity index, 2018 (higher numbers = more complex)
60
4 50 40 30 20 -6 2 0 -2 -4
10
0
-8 -10
Source: Bank of Thailand INTERNATIONAL MONETARY FUND
2019
1997
1998
1999
2000
2001
2002
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2004
2005
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2018
Source: Harvard Atlas of Economic Complexity
5
However, domestic demand has been weak
Public investment has been flat
Public fixed investment (percent of GDP, sum of last 4 quarters)
And declining corporate profitability weighs on p


Full Text
Title Thailand: Economic trends and policy issues
Similar Titles
Material Type Report
Author(English)

Lamin Leigh

Publisher

International Monetary Fund (IMF)

Date 2020-08
Event Workshop on ASEAN-India macroeconomic policy and development cooperation
Subject Country Thailand(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Macroeconomics
Holding KDI School of Public Policy and Management
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