Thai Economy

Master of EconomicsThammasat University

Overview

Thailand covers an area of 514,000 square kilometers

The estimated population is 64 million, and 9.3 million live in Bangkok

Human Development Rating of 0.778.

Source: United Nations, Thailand

Source: Asian Development Bank

Economic Growth 2016 = 3.0 %Inflation = 0.6 %Current account balance sheet = 7.5 % of GDP

Source: Asian development Bank

2011 2012 2013 2014 20150

50

100

150

200

250

-10-505

10152025303540

International sector

International Reserves (USD) Exports (USD billion) (RHS axis)Imports (USD billion) (RHS axis) Current Account (% of GDP)Current Account Balance (USD bn) Trade Balance (USD billion)

2011 2012 2013 2014 201550005200540056005800600062006400

6767.267.467.667.86868.268.468.668.869

Population, and GDP

GDP per capita (USD)Population (million) (RHS axis)

2011 2012 2013 2014 2015

-6-4-202468

101214

34

36

38

40

42

44

46

Unemployment, and Fiscal status

Unemployment Rate

Fiscal Balance (% of GDP)

Money (annual variation in %)

Public Debt (% of GDP) (PHS axis)

source: The Economist Intelligence

GDP contribution

2011 2012 2013 2014 20150%

10%20%30%40%50%60%70%80%90%

100%

-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

0.8

7.2

2.7

0.8

2.8

 Demand-side contributions to growth

Private consumption Government consumptionTotal investment Net exportsStatistical discrepancy Gross domestic product

Source: National Economic and Social Development Board

Export

Source: Thai Military Bank

Monetary

Jan-14

Mar-14

May-14

Jul-14Se

p-14

Nov-14Jan-15

Mar-15

May-15

Jul-15Se

p-15

Nov-15Jan-16

-1.5-1.0-0.50.00.51.01.52.02.53.0

Inflation and policy interest rate

Overall (%) year on year CorePolicy rate %

Sources: Bank of Thailand. http://www.bot.or.th; CEIC Data Company (both accessed 11 March 2016).

2011 2012 2013 2014 2015 2016 2017

-2.0

-1.0

0.0

1.0

2.0

3.0

4.0

5.0

Inflation

Inflation 5-year moving averageSource: Asian Development Outlook database.

Fiscal

Current Budget80%

Capital Budget20%

Budget Appropriations in 2016

Current BudgetCapital Budget

21%

17%

12%9%7%

6%6%5%

5%2%

10%

Budget Appropriations

Ministry of Education Central Fund Ministry of Interior Ministry of Finance Ministry of Defence Fund and Revolving Fund State Enterprises Independent Public

Agencies Ministry of Public Health Ministry of Agriculture and

Cooperatives Other

Source : Government Fiscal Management Information System

Revenue

65%17%

4%14%

Government Revenue in 2015

Revenue DepartmentExcise DepartmentCustoms DepartmentOther

41%

33%

18%

5%3% 1% 0%

Revenue Department

Value added taxes Corporation taxes Personal income taxes Petroleum income taxes Specific business taxes Stamp duties Others

Source : Government Fiscal Management Information System

Fiscal debt

Public Debt Outstanding as of June 2016 Total (Million THB)

% of GDP

+/(-) of last month

Government Debt 4,373,288.14 31.62 (41,731.88)

- Direct Government Debt 3,403,355.89 24.61 (8,509.54)

- Government Debt to fiscalise FIDF loss 969,932.25 7.01 (3,222.34)

Non-Financial SOEs Debt 1,021,940.40 7.39 (6,831.42)

Financial SOEs Debt (Guaranteed) 517,517.92 3.74 (4,096.12)

Other Government Agencies Debt 11,309.07 0.08 (638.38)

Total 5,924,055.53 42.83 (53,297.80)

Source: Public Debt Management Office

Poverty status

MyanmarPhilippines

Lao CambodiaIndonesiaThailand

Viet NamMalaysia

0 5 10 15 20 25 30

Share of population below than poverty line (%)

PhilippinesBrunei Darussalam

IndonesiaSingaporeMalaysia

LaoThailand

Viet NamCambodia

0 10 20 30 40 50 60 70 80 90

Employment to population ratio (%)

Source: Asian Development.

Human Development

Human Developme

nt Index (HDI)

Life expectancy

at birth

Expected years of

schoolingMean years of schooling

Gross national income (GNI)

per capita

GNI per capita rank

minus HDI rank

HDI rank Country Value (years) (years) (years) (2011 PPP $)

2014 2014 2014 2014 2014 2014

62 Malaysia 0.779 74.7 12.7 10.0 22,762 -14

93 Thailand 0.726 74.4 13.5 7.3 13,323 -13

110 Indonesia 0.684 68.9 13.0 7.6 9,788 -9

Source: Human Development Program : Human Development Report 2015

Human capital Gross enrollment ratio, primary, both sexes (%)

Life expectancy at birth, total (years)

Gross enrollment ratio, Secondary, both sexes (%)

Faculty of EconomicsThammasat University

8/26/2016