Private Consumption Index (%YoY)
0.3%
Jan 2025
Thai Economy
conditions • indicators • outlook
Press Release on the Economic and Monetary Conditions for January 2025
The Thai economy improved from the previous month, supported by increasing activities in the tourism sectors, following higher numbers of foreign tourist and revenue. Private consumption increased and was partly benefited from the government stimulus measure in line with activities in the trade sector, manufacturing production, and private investment. Merchandise exports also increased from the previous month but remained concentrated in certain categories. Government spending continued to expand from both current and capital expenditures.
Economic Outlook
The Thai economy is projected to expand by 2.7 and 2.9 percent in 2024 and 2025, respectively. Tourism and domestic demand continue to be the main drivers, as well as exports of electronics and machinery in line with the expected recovery in the global technology cycle. However, the economic recovery remained uneven across sectors. Whereas tourism-related services improved, the recovery for SMEs and certain manufacturing industries faced pressures from declining competitiveness. For example, developments in the automotive industry have been adversely affected by both price and demand factors. This resulted in uneven income recovery for households. Looking forward, major economies’ policies remain highly uncertain, so it is critical to monitor such developments which could affect merchandise exports and private investment for Thailand going forward. (Forecast as of 18 December 2024)
Economic Publications
Report on Business Sentiment Index
Business Outlook Report
Credit Conditions Report
Key Economic and Financial Statistics
