Cover of The Report: Thailand 2018

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.

Thailand’s medium- and long-term economic outlook remains bright it makes progress with development plans aimed at bolstering the business environment, diversifying the industrial base and attracting higher levels of foreign investment. One of these blueprints is the Eastern Economic Corridor (EEC) Act, which was laid out in February 2018 and established a set of attractive investor incentives for EEC projects. Thailand’s exports also picked up pace in the second half of 2017 to exceed market expectations, with gross exports rising by 7.5%, the largest expansion recorded since 2011.

 

OBG & Thailand