Publication:
Thailand Economic Monitor, June 2010

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dc.contributor.authorWorld Bank
dc.date.accessioned2017-07-12T21:47:12Z
dc.date.available2017-07-12T21:47:12Z
dc.date.issued2010-06
dc.description.abstractThe Thai economy runs on a single engine: external demand. The economic roller coaster since the onset of the global financial crisis can be overwhelmingly attributed to fluctuations in the output of three sectors most sensitive to external demand: manufacturing, logistics (transportation and storage), and tourism (hotels and restaurants). As global trade contracted between the fourth quarter of 2008 and first quarter of 2009, Thailand's real gross domestic product (GDP) fell 6.3 percent, before rebounding 6.9 percent through the end of 2009 on a revival in actual and expected external demand. At the end of 2009, real GDP was back to pre-crisis levels, as measured in seasonally adjusted terms. For 2009 as a whole, however, real GDP fell 2.2 percent. The dominance of sectors linked to external demand over Thailand's growth dynamics is not new. Both sets of sectors grew at about the same pace prior to the 1997 financial crisis. However, a structural break took place in the aftermath of the crisis, when sectors linked to external demand grew an average of 6.1 percent between 2001 and 2007 compared to a 4.3 percent growth rate of other sectors. While the sectors linked to external demand are expected to grow below the historical average in the near term due to lower growth in demand from advanced economies, a reversal of the structural change observed since 1998 is unlikely. This will require an acceleration of the growth of the sectors linked to domestic demand. But the constraints that limited the growth of these sectors in the past not only remain but have been compounded in the near term by the escalation of the political conflict. This will ensure that growth rates in sectors linked to domestic demand will also remain below their (already low) historical averages and the dominance of external demand on the economy will continue to increase.en
dc.identifierhttp://documents.worldbank.org/curated/en/966211468118139954/Thailand-economic-monitor-June-2010
dc.identifier.doi10.1596/27547
dc.identifier.urihttps://hdl.handle.net/10986/27547
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectACCOUNTING
dc.subjectADVANCED ECONOMIES
dc.subjectAGRICULTURE
dc.subjectALTERNATIVE INVESTMENT
dc.subjectASSET PRICE
dc.subjectASSETS
dc.subjectAVERAGE OIL PRICE
dc.subjectBALANCE OF PAYMENTS
dc.subjectBENCHMARK
dc.subjectBID
dc.subjectBOND MARKET
dc.subjectBOND MARKETS
dc.subjectBOND PRICES
dc.subjectBONDS
dc.subjectBUDGET DEFICIT
dc.subjectCAPACITY CONSTRAINTS
dc.subjectCAPITAL ACCOUNT
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL GOODS
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL MARKET
dc.subjectCAPITAL MARKET DEVELOPMENT
dc.subjectCAPITAL OUTFLOWS
dc.subjectCLEARING HOUSE
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMODITY PRICES
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVENESS
dc.subjectCONSOLIDATION
dc.subjectCONSUMER CONFIDENCE
dc.subjectCONSUMER PREFERENCES
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMERS
dc.subjectCORPORATE BOND
dc.subjectCORRELATION ANALYSIS
dc.subjectCORRELATION COEFFICIENT
dc.subjectCPI
dc.subjectCREDIT BUREAU
dc.subjectCREDIT GROWTH
dc.subjectCURRENCY
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT SURPLUS
dc.subjectCURRENT ACCOUNT SURPLUSES
dc.subjectDEBT
dc.subjectDEBT CRISIS
dc.subjectDEBT LEVELS
dc.subjectDEBT RATING
dc.subjectDEMAND GROWTH
dc.subjectDEPOSIT
dc.subjectDEPOSITS
dc.subjectDISBURSEMENTS
dc.subjectDOMESTIC DEMAND
dc.subjectDOMESTIC INVESTORS
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC COOPERATION
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC ENVIRONMENT
dc.subjectECONOMIC OUTCOMES
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIC RESEARCH
dc.subjectECONOMIC SHOCK
dc.subjectEFFECTIVE EXCHANGE RATE
dc.subjectEFFECTIVE EXCHANGE RATES
dc.subjectEQUILIBRIUM
dc.subjectEQUIPMENT
dc.subjectEQUITY MARKETS
dc.subjectEXCESS CAPACITY
dc.subjectEXCHANGE COMMISSION
dc.subjectEXCHANGE RATES
dc.subjectEXIT STRATEGIES
dc.subjectEXPORT COMPETITIVENESS
dc.subjectEXPORT EARNINGS
dc.subjectEXPORT GOODS
dc.subjectEXPORT GROWTH
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPORT VOLUME
dc.subjectEXPORTS
dc.subjectEXTERNAL DEMAND
dc.subjectFINANCIAL CONSTRAINTS
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFOOD PRICE
dc.subjectFOOD PRICES
dc.subjectFORECASTS
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN RESERVES
dc.subjectFORESTRY
dc.subjectFREE TRADE
dc.subjectFREE TRADE AGREEMENT
dc.subjectFUTURES
dc.subjectFUTURES EXCHANGE
dc.subjectGDP
dc.subjectGLOBAL DEMAND
dc.subjectGLOBAL INTEREST
dc.subjectGLOBAL TRADE
dc.subjectGOLD
dc.subjectGOVERNMENT BOND
dc.subjectGOVERNMENT BONDS
dc.subjectGOVERNMENT SECURITIES
dc.subjectGROSS CAPITAL FORMATION
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROSS FIXED CAPITAL FORMATION
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectHIGH UNEMPLOYMENT
dc.subjectHIGH-INCOME COUNTRIES
dc.subjectIMPORT
dc.subjectIMPORT CONTENT
dc.subjectIMPORT DEMAND
dc.subjectIMPORT GROWTH
dc.subjectIMPORT PRICES
dc.subjectIMPORTS
dc.subjectIMPORTS GOODS
dc.subjectINCOME
dc.subjectINDEBTEDNESS
dc.subjectINDUSTRIAL ECONOMICS
dc.subjectINDUSTRIAL ECONOMIES
dc.subjectINFLATION
dc.subjectINFLATION RATES
dc.subjectINFLATION RISKS
dc.subjectINFLATIONARY PRESSURES
dc.subjectINTEREST RATES
dc.subjectINTERMEDIATE GOODS
dc.subjectINTERNATIONAL INTEREST
dc.subjectINTERNATIONAL INTEREST RATES
dc.subjectINTERNATIONAL RESERVES
dc.subjectINTERNATIONAL SETTLEMENTS
dc.subjectINTERNATIONAL TRADE
dc.subjectINVENTORIES
dc.subjectINVENTORY
dc.subjectINVESTMENT CLIMATE
dc.subjectKEY RISK
dc.subjectKEY RISKS
dc.subjectLABOR COSTS
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKETS
dc.subjectLEADING INDICATORS
dc.subjectLOCAL CURRENCIES
dc.subjectLOW INTEREST RATES
dc.subjectMARKET PRICES
dc.subjectMARKET SHARE
dc.subjectMETALS
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectMORTGAGE
dc.subjectMULTINATIONAL COMPANIES
dc.subjectMULTIPLIER EFFECT
dc.subjectNATIONAL CREDIT
dc.subjectNET EXPORTS
dc.subjectNON-PERFORMING LOAN
dc.subjectNPL
dc.subjectOIL COMMODITIES
dc.subjectOIL COMMODITY
dc.subjectOIL COMMODITY PRICES
dc.subjectOIL PRICE
dc.subjectPOLITICAL STABILITY
dc.subjectPOLITICAL TURMOIL
dc.subjectPOLITICAL UNCERTAINTY
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE INSURANCE
dc.subjectPRIVATE CONSUMPTION
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTMENTS
dc.subjectPRIVATE SAVING
dc.subjectPRODUCTION PROCESSES
dc.subjectPROTECTIONIST MEASURES
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT MANAGEMENT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC INVESTMENTS
dc.subjectPURCHASING POWER
dc.subjectREAL EFFECTIVE EXCHANGE RATE
dc.subjectREAL GDP
dc.subjectRECESSION
dc.subjectRECESSIONS
dc.subjectRETURN
dc.subjectREVALUATION
dc.subjectRISK AVERSION
dc.subjectRISK MANAGEMENT
dc.subjectRISK PREMIUMS
dc.subjectSHORTFALLS
dc.subjectSLACK
dc.subjectSOVEREIGN DEBT
dc.subjectSPEED OF ADJUSTMENT
dc.subjectSTANDARD DEVIATION
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK MARKET
dc.subjectSTOCK MARKETS
dc.subjectSTOCKS
dc.subjectSTRUCTURAL CHANGE
dc.subjectSTRUCTURAL REFORM
dc.subjectSUPPLY RESPONSE
dc.subjectSUSTAINABLE GROWTH
dc.subjectTAX INCREASES
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTRADE NEGOTIATIONS
dc.subjectTRADE REGIME
dc.subjectTRADE TRANSACTIONS
dc.subjectTRADING PARTNERS
dc.subjectTRANSACTIONS COSTS
dc.subjectTROUGH
dc.subjectUNCERTAINTIES
dc.subjectUNCERTAINTY
dc.subjectUNDERESTIMATES
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNEMPLOYMENT RATES
dc.subjectVALUATION
dc.subjectVALUE ADDED
dc.subjectVALUE INDEX
dc.subjectVALUE INDICES
dc.subjectWAGE DIFFERENTIALS
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWORLD ECONOMY
dc.subjectWORLD TRADE
dc.titleThailand Economic Monitor, June 2010en
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleThailand Economic Monitor, June 2010
okr.date.disclosure2010-10-04
okr.date.doiregistration2025-05-07T10:25:07.548477Z
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/966211468118139954/Thailand-economic-monitor-June-2010
okr.guid466071468133163291
okr.guid966211468118139954
okr.identifier.externaldocumentum000333037_20101004004655
okr.identifier.internaldocumentum12827835
okr.identifier.report56863
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/966211468118139954/pdf/568630WP0P122611June20101fullreport.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryThailand
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Policy, Institutions and Governance
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicPoverty Reduction::Achieving Shared Growth
okr.topicPoverty Reduction::Inequality
okr.unitWB Off: Bangkok (Southeast Asia) (EACTF)
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