Thailand Articles & Analysis

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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Thailand is moving forward with plans to expand its transport infrastructure, with some of the country’s largest companies gearing up to bid on a high-speed rail line linking three key airports. Other major rail projects have also experienced progress in recent months.

Rising international demand will likely see Thailand come close to equalling last year’s record for rice exports, with strong sales supporting higher rural incomes and contributing to broader economic growth, though success could bring its own challenges.

 

Household consumption in Thailand has been constrained by an ageing population and rising consumer debt, and a string of failed stimulus packages launched in the early 2010s led to a sharp increase in the number of distressed and non-performing loans (NPLs) in the consumer segment, exacerbating already challenging circumstances. However, the...

 

Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing...

 

Macroeconomic recovery in Thailand gained momentum in 2017, with GDP growth hitting a five-year high on the back of positive performance in exports, tourism and financial services, as well as a moderate uptick in private consumption. Although non-performing loans (NPLs) remain a concern for the banking sector, lending growth accelerated in...

 

How can further policy reforms and incentives encourage private investment?