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

dc.contributor.author World Bank Group
dc.date.accessioned 2020-07-08T16:12:39Z
dc.date.available 2020-07-08T16:12:39Z
dc.date.issued 2020-06
dc.description.abstract The 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.identifier http://documents.worldbank.org/curated/en/456171593190431246/Thailand-Economic-Monitor-Thailand-in-the-Time-of-COVID-19
dc.identifier.uri http://hdl.handle.net/10986/34047
dc.language English
dc.publisher World Bank, Bangkok
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo
dc.subject ECONOMIC GROWTH
dc.subject ECONOMIC OUTLOOK
dc.subject CORONAVIRUS
dc.subject COVID-19
dc.subject PANDEMIC IMPACT
dc.subject POLICY RESPONSE
dc.subject PRIVATE INVESTMENT
dc.subject FISCAL TRENDS
dc.subject EMPLOYMENT
dc.subject UNEMPLOYMENT
dc.subject PUBLIC HEALTH
dc.subject GLOBAL VALUE CHAIN
dc.title Thailand Economic Monitor, June 2020 en
dc.title.subtitle Thailand in the Time of COVID-19 en
dc.type Report en
dc.type Rapport fr
dc.type Informe es
dspace.entity.type Publication
okr.crossref.title Thailand Economic Monitor, June 2020
okr.date.disclosure 2020-06-29
okr.doctype Economic & Sector Work
okr.doctype Economic & Sector Work :: Economic Updates and Modeling
okr.docurl http://documents.worldbank.org/curated/en/456171593190431246/Thailand-Economic-Monitor-Thailand-in-the-Time-of-COVID-19
okr.identifier.doi 10.1596/34047
okr.identifier.externaldocumentum 090224b087aed910_2_0
okr.identifier.internaldocumentum 32180954
okr.identifier.report 150134
okr.imported true en
okr.language.supported en
okr.pdfurl http://documents.worldbank.org/curated/en/456171593190431246/pdf/Thailand-Economic-Monitor-Thailand-in-the-Time-of-COVID-19.pdf en
okr.region.administrative East Asia and Pacific
okr.region.country Thailand
okr.topic Health, Nutrition and Population :: Public Health Promotion
okr.topic Macroeconomics and Economic Growth :: Economic Growth
okr.topic Macroeconomics and Economic Growth :: Fiscal & Monetary Policy
okr.topic Macroeconomics and Economic Growth :: Investment and Investment Climate
okr.topic Poverty Reduction :: Employment and Shared Growth
okr.unit Thailand Office
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