Thailand: Economy | Asian Development Bank

Thailand: Economy

The economy expanded by 3.5% in the first half of 2017. Stronger-than-expected growth in agriculture and exports offset subdued investment to sustain a GDP growth rate in line with the Asian Development Outlook 2017 forecast in April. The current account surplus is now seen to come in at 8.5% of GDP and inflation at 0.7%, both lower than the April forecasts. Growth and inflation are likely to edge up in 2018, and the current account surplus to shrink. Read more from Asian Development Outlook 2017 Update


Economic forecasts for Southeast Asian countries

Country 2017f 2018f
Brunei Darussalam 1.0 2.5
Cambodia 7.1 7.1
Indonesia 5.1 5.3
Lao People’s Democratic Republic 6.9 7.0
Malaysia 4.7 4.6
Myanmar 7.7 8.0
Philippines 6.5 6.7
Singapore 2.4 2.5
Thailand 3.5 3.6
Viet Nam 6.5 6.7
Average 4.8 5.0
Country 2017f 2018f
Brunei Darussalam 0.1 0.1
Cambodia 3.4 3.5
Indonesia 4.3 4.5
Lao People’s Democratic Republic 2.5 3.0
Malaysia 4.0 2.7
Myanmar 7.0 7.5
Philippines 3.5 3.7
Singapore 1.1 1.5
Thailand 1.2 1.6
Viet Nam 4.0 5.0
Average 3.3 3.4
Country 2017f 2018f
Brunei Darussalam 5.3 5.5
Cambodia –9.4 –9.0
Indonesia –1.7 –1.6
Lao People’s Democratic Republic –19.0 –20.0
Malaysia 1.8 2.0
Myanmar –8.0 –8.0
Philippines 0.2 0.5
Singapore 19.5 19.8
Thailand 9.0 7.0
Viet Nam 2.0 2.5
Average 3.1 3.0

f = forecast number.

Source: Asian Development Outlook 2017