Thailand Monthly Economic Monitor for March 2025
Thailand’s economy grew by 3.2 percent year-on-year in Q4 2024, driven by a rebound in public investment and strong electronics exports, while private consumption saw a modest boost from fiscal stimulus.
Summary:
Thailand’s economy grew by 3.2 percent year-on-year in Q4 2024, driven by a rebound in public investment and strong electronics exports, while private consumption saw a modest boost from fiscal stimulus. High-frequency indicators in January suggest continued expansion, supported by strong goods exports, improving investment, and a tourism rebound despite global trade uncertainty. The Bank of Thailand lowered the policy rate to 2.0 percent in February to ease debt pressures, while inflation remained within target. Despite a stronger current account balance, financial markets fluctuated, with the Thai baht depreciating in early March on general US dollar strength.