Publication:
Thailand Economic Monitor, June 2020: Thailand in the Time of COVID-19

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2020-07-08T16:12:39Z
dc.date.available2020-07-08T16:12:39Z
dc.date.issued2020-06
dc.description.abstractThe COVID-19 (coronavirus) shock hit Thailand in early 2020 adding to pre-existing vulnerabilities. Economic growth slowed from 4.2 percent in 2018 to 2.4 percent in 2019, with particularly weak performance in Q4 2019. The key drivers of slowing growth were weaker demand for exports reflecting the impact of US-China trade tensions, slowing public investments driven by delay in the passage of the FY 2020 budget, and a drought, impacting agricultural production. The COVID shock hit Thailand in early 2020 and has already had a significant economic impact, with a sharp growth contraction of 1.8 percent y-o-y and 2.2 percent q-o-q in Q1 2020. The Thai economy is projected to contract sharply in 2020, driven by a sharp deterioration in global and domestic demand. In the baseline, the economy is projected to contract by 5.0 percent in 2020, which is among the sharpest projected declines in the region. This is driven by a sharp decline in exports, particularly from tourism receipts and weakening global trade, and a slowdown in domestic demand reflecting the impact of mobility restrictions and mandated closures of businesses. The forecast is subject to future revisions, particularly on the downside, given heightened uncertainty surrounding the outbreak trajectory, globally and domestically.en
dc.identifierhttp://documents.worldbank.org/curated/en/456171593190431246/Thailand-Economic-Monitor-Thailand-in-the-Time-of-COVID-19
dc.identifier.doi10.1596/34047
dc.identifier.urihttps://hdl.handle.net/10986/34047
dc.languageEnglish
dc.publisherWorld Bank, Bangkok
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OUTLOOK
dc.subjectCORONAVIRUS
dc.subjectCOVID-19
dc.subjectPANDEMIC IMPACT
dc.subjectPOLICY RESPONSE
dc.subjectPRIVATE INVESTMENT
dc.subjectFISCAL TRENDS
dc.subjectEMPLOYMENT
dc.subjectUNEMPLOYMENT
dc.subjectPUBLIC HEALTH
dc.subjectGLOBAL VALUE CHAIN
dc.titleThailand Economic Monitor, June 2020en
dc.title.subtitleThailand in the Time of COVID-19en
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleThailand Economic Monitor, June 2020
okr.date.disclosure2020-06-29
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/456171593190431246/Thailand-Economic-Monitor-Thailand-in-the-Time-of-COVID-19
okr.guid299651598936500869
okr.guid456171593190431246
okr.guid905771598936764150
okr.identifier.doi10.1596/34047
okr.identifier.doihttps://doi.org/10.1596/34047
okr.identifier.externaldocumentum090224b087aed910_2_0
okr.identifier.internaldocumentum32180954
okr.identifier.report150134
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/456171593190431246/pdf/Thailand-Economic-Monitor-Thailand-in-the-Time-of-COVID-19.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryThailand
okr.topicHealth, Nutrition and Population::Public Health Promotion
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicMacroeconomics and Economic Growth::Investment and Investment Climate
okr.topicPoverty Reduction::Employment and Shared Growth
okr.unitThailand Office
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