Thai economy continues strong growth in fourth quarter

[webfact]

Thai economy continues strong growth in fourth quarter

By The Nation

 

 

The Thai economy grew by 4 per cent year-on-year (yoy) in the last quarter of 2017, while full-year growth was 3.9 per cent, up from 3.3 per cent in 2016, said Porametee Vimolsiri, Secretary General of the National Economic and Social Development Board on Monday.

 

Seasonally adjusted, the economy in the fourth quarter expanded 0.5per cent quarter-on-quarter, suggesting continued expansion, he said.

 

Private consumption rose 3.5 per cent yoy, largely due to consumers buying more durable goods, while private investment increased 2.4 per cent yoy, slightly down on the 2.5 per cent in the third quarter.

 

Public investment declined 6 per cent yoy, due to slower spending of items outlined in the budget, he noted, while exports of goods nominated in dollars expanded 11.6per cent yoy.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30339196

 

-- © Copyright The Nation 2018-02-19

[Eric Loh]

Economy is just playing catch up after tanking following the coup. 

[robblok]

Just now, Eric Loh said:

Economy is just playing catch up after tanking following the coup. 

Funny how people attribute the good times to the politicians they like but when others get good results they deny it.

 

IMHO politicians and governments have little influence on how the economy goes and the world economy dictates most of it.

[steven100]

8 minutes ago, webfact said:

The Thai economy grew by 4 per cent year-on-year (yoy) in the last quarter of 2017, while full-year growth was 3.9 per cent, up from 3.3 per cent in 2016

Great news,  this shows the efforts of Khun Prayut Chan O Cha and the Junta are getting results.  I have always said the Thai economy is picking up speed since Khun Prayut took office and this is testament to his work with the fast tracking of several projects.

[Eric Loh]

11 minutes ago, robblok said:

Funny how people attribute the good times to the politicians they like but when others get good results they deny it.

 

IMHO politicians and governments have little influence on how the economy goes and the world economy dictates most of it.

Facts don't lie no matter how you want to deflect the junta's non-achievements but they sure knows how brag about it.          

                                      Thailand Economy Data
                                                                                  2012    2013    2014    2015    2016
Population (million)                                                68.0    68.3    68.7    68.8    69.0
GDP per capita (USD)                                             5,845  6,175  5,925  5,788   5,907
GDP (USD bn)                                                            397    422      407     398      407
Economic Growth (GDP, annual variation in %)    7.2    2.7        0.9      2.9        3.2

[robblok]

2 minutes ago, Eric Loh said:

Facts don't lie no matter how you want to deflect the junta's non-achievements but they sure knows how brag about it.          

                                      Thailand Economy Data
                                                                                  2012    2013    2014    2015    2016
Population (million)                                                68.0    68.3    68.7    68.8    69.0
GDP per capita (USD)                                             5,845  6,175  5,925  5,788   5,907
GDP (USD bn)                                                            397    422      407     398      407
Economic Growth (GDP, annual variation in %)    7.2    2.7        0.9      2.9        3.2

So in 2013 YL her reign they had less gdp growth as in 2015 and 2016 and 4% growth on 2017.. you forgot to mention... seems junta did well better then YL. Not  that i subscribe to the notion that governments can change too much.. its mainly dictated by the state of the world economy. 

[robblok]

@Eric,

 

If you want to truly compare a governments performance one should compare it with the deviation from the world economy not just the growth rate. 

[Eric Loh]

1 minute ago, robblok said:

So in 2013 YL her reign they had less gdp growth as in 2015 and 2016 and 4% growth on 2017.. you forgot to mention... seems junta did well better then YL. Not  that i subscribe to the notion that governments can change too much.. its mainly dictated by the state of the world economy. 

For that poor GDP performance in 2013, you have to credit that to Suthep's excellent planning to creating political instability with the military to set up the coup. 

 

The world economy certainly did wonders for the economy of most ASEAN peer countries but not for Thailand. Pity. 

[robblok]

2 minutes ago, Eric Loh said:

For that poor GDP performance in 2013, you have to credit that to Suthep's excellent planning to creating political instability with the military to set up the coup. 

 

The world economy certainly did wonders for the economy of most ASEAN peer countries but not for Thailand. Pity. 

2013 was not a full year of street protests.. they started somewhere in december.. so that is no excuse for the bad gdp growth of 2013.

[Cadbury]

21 minutes ago, steven100 said:

Great news,  this shows the efforts of Khun Prayut Chan O Cha and the Junta are getting results.

Rubbish! These results simply show that the economy is regaining the growth and momentum that it lost when your hero took over. This growth rate would have happened even if Winnie the Pooh had been running the country and without anyone doing anything.

[Eric Loh]

7 minutes ago, robblok said:

2013 was not a full year of street protests.. they started somewhere in december.. so that is no excuse for the bad gdp growth of 2013.

Why on earth you try to argue to suit your agenda when the facts are all there. First the street protest started in Nov 2013 and the last quarter was 0.6% GDP which was a slump from previous quarters 2.6%. The NESDB slashed the growth estimate for 2013 from 4 - 5% to 3 - 4%. It was worse than their estimate. 

[Bob12345]

2 hours ago, robblok said:

IMHO politicians and governments have little influence on how the economy goes and the world economy dictates most of it.

Agree 100% with how little politicians and governments can influence good economic times; especially for a country like Thailand which depends on exports, tourists, and whatever more they can do little about. The main reason the economy did so well under Taksin was the strong global economy, all he did well was not hindering the growth too much.

 

But politicians and governments do have huge influences on bad times. Put a junta in government with no background in managing a country, have protests bringing airports and the capital down, add the threat of new regulations and your economy will sink like the Titanic no matter the world economy. See how Thailand is doing compared to other countries in the region since the coup.

[PAIBKK]

They all forgot the effective grow. That is minus the inflation figure.

The effective grow is what counts !!! I can tell you that is a negative figure for years !!!

 

- A massage salon also selling cooked food outside.

- A barber also selling candy outside.

- A bike repair shop also selling fruits from the province outside.

- A laundry also selling fresh coconut milk outside.

- A pharmacy also selling coffee and tea outside.

- A restaurant closed and the owner is now selling used clothes. He was just lucky that he bought the building 35 years ago.

- A gold shop closed as the customers in the area can't spend more money but now selling skin & hair care products.

Just an example from the soi next to my apartment building.

 

Thai government seeing this as an increase of economy.

I see it as an increase of poverty !!! 

 

The veterinary where we often come to get food for our cats, is also complaining that he's getting less and less patients. He sees the economy in Thailand the same as I do. 

[Chris Lawrence]

5 hours ago, robblok said:

Funny how people attribute the good times to the politicians they like but when others get good results they deny it.

 

IMHO politicians and governments have little influence on how the economy goes and the world economy dictates most of it.

True to a point. 

 

Kevin Rudd and Wayne Swann kept Australia out of the 2008 belly up by spending money.

 

Governments do have a influence on what happens in their country.

 

I send you a bunch of daffodils Rob, only because I like you and know the colour you like.

 

Chris

[robblok]

2 minutes ago, Chris Lawrence said:

True to a point. 

 

Kevin Rudd and Wayne Swann kept Australia out of the 2008 belly up by spending money.

 

Governments do have a influence on what happens in their country.

 

I send you a bunch of daffodils Rob, only because I like you and know the colour you like.

 

Chris

True to a big point.. otherwise in Europe and the VS they could always keep the economy going.. and that has never been the case.

 

If you truly want to know how good a economy is doing see how much it deviates from the world economy in a positive way. Also don't forget time laps.. things that other governments have set in motion might just come to fruition when a next government takes over. Its just not that easy to say who is responsible for what.

[bkk6060]

As the Chinese continue to come this place is going to grow tremendously.

Over the next 10 years I bet close to a double.  Many more people, more expensive.  Progress.

[RichardColeman]

Anyone can grow an economy. The problem is that you have to pay the bill when it is due. 

[robblok]

9 minutes ago, RichardColeman said:

Anyone can grow an economy. The problem is that you have to pay the bill when it is due. 

Yes but the way the junta did it is making sure the bill does not come during their tenure. Whoever is next might have to pay the bill.

[joecoolfrog]

8 hours ago, steven100 said:

Great news,  this shows the efforts of Khun Prayut Chan O Cha and the Junta are getting results.  I have always said the Thai economy is picking up speed since Khun Prayut took office and this is testament to his work with the fast tracking of several projects.

Well as the economy is booming and the PM is so popular I am amazed he has not yet set an election date , clearly he would win easily...

[rickudon]

On 2/19/2018 at 10:27 AM, webfact said:

Public investment declined 6 per cent yoy, due to slower spending of items outlined in the budget, he noted, while exports of goods nominated in dollars expanded 11.6per cent yoy.

How much of that 11.6% was due to dollar falling in value ..............