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Last updated August 20, 2020
Created August 20, 2020
Format PDF
License Attribution-NonCommercial-ShareAlike 3.0 IGO (CC BY-NC-SA 3.0 IGO)
Name Executive Summary (July 2020) Thailand Economic Monitor 2020: Thailand in the Time of COVID-19

The COVID-19 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 USChina 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.

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  • English