FW: RHB | Thailand | GDP Tops 4% As Exports Surge

 

 

 

 

 

 

Economic Research			21 November 2017
Thailand
Economic Update
GDP Tops 4% As Exports Surge   Thailand’s GDP jumped 4.3% YoY in 3Q17 from +3.8% in the quarter before. Exports and fixed asset investments did most of the heavy lifting, respectively rising 7.4% and 1.2% YoY in 3Q17 from readings of 6% and 0.4% in the quarter before. Meanwhile, private and government consumption also contributed to the improvement, albeit at smaller magnitudes. We maintain our belief that the kingdom’s GDP ought to grow by 3.7% this year, before accelerating to 4.2% in 2018. Private investment growth is set to gain momentum with the Government’s EEC initiative drawing a lot of interest. We believe that public investments would soon follow. Exports may slow in 4Q17 due to a high base effect from last year. Nevertheless, external demand should sustain next year. This is as conditions remain conducive for global growth.    Economist:  Ng Kee Chou  | +603 9280 2179
To access our recent reports please click on the links below:   9 November: BoT Keeps Policy Rate At 1.5% As Economy Improved 2 November: CPI To Pick Up Following Stronger Economic Growth 1 November: Foreign Operations Offset Domestic Easing 1 November: MPI Unchanged Despite Auto Slowdown 4 October : September CPI Surged, But Core CPI Remained Flat
Economic Team
Peck Boon Soon	Chief ASEAN Economics	bspeck@rhbgroup.com		+603 9280 2163
Vincent Loo	Malaysia, Vietnam	vincent.loo@rhbgroup.com		+603 9280 2172
Ng Kee Chou	Singapore, Thailand	ng.kee.chou@rhbgroup.com		+603 9280 2179
Rizki Fajar	Indonesia, Philippines	rizki.fajar@rhbgroup.com		+6221 2970 7065
Aris Nazman Maslan	Malaysia, Vietnam	mohd.aris.nazman@rhbgroup.com		+603 9280 2184

                                                                                                                                    

 

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