Thailand’s Key Macroeconomic

1 Economic Statistics OfficeThailand s Key MacroeconomicFebruary 2020 CONTENTSCONTACT PERSONS For further information, please contact following coordinators: Chatchawan Tel. 0 2283 5170 Kiattikhun Tel. 0 2356 7410 Pimratchada 0 2283 6898 GDP and InflationBusiness SectorSMEs SectorFiscal SectorHousehold SectorLabour MarketAgricultural SectorProperty SectorService SectorExternal SectorMoney, Credit and BankingFinancial MarketPayment Statistics123456789 10121415 Data Finalised 2thNovember 2019 GUIDEC hart s TitleMillions of Baht% yoySource: Bank of thailand [A]Frequency of data.

2 A = AnnuallyQ = QuarterlyM = MonthlyUnit of LHS s dataUnit of RHS s dataLeft Hand Side AxisRight Hand Side Axis(RHS)Source of dataHyperlink Click to data sourceRemark: if availableRemarkGDP AND INFLATIONReal GDP GrowthSource: Office of the National Economic and Social Development Board%Per Capita GDP Baht Source: Office of the National Economic and Social Development BoardContribution to GDP Expenditure%Source: Office of the National Economic and Social Development Board, calculated by Bank of thailand Contribution to GDP ProductionSource: Office of the National Economic and Social Development Board, calculated by Bank of thailand %Inflation (Consumer Price Index)Source: Bureau of Trade and Economic Indicies, Ministry of Commerce% yoyGDP Deflator & PCE DeflatorSource: Office of the National Economic and Social Development Board, calculated by Bank of thailand % yoy[Q][A][Q][M][Q][Q]Remark: PCE.

3 Private Consumption Expenditure1050,000100,000150,000200,000 250,000949596979899000102030405060708091 011121314151617-10-505101520111213141516 171819 Private ConsumptionPrivate Investm entGovernment ExpenditureNet ExportsStocks & , Non-Manufacturing-4-20246810080910111213 141516171819 PCE DeflatorGDP Deflator-6-4-202468100809101112131415161 71819 Headline CPICore CPI-15-10-505101520949596979899000102030 4050607080910111213141516171819%yoy%qoq( SA)BUSINESS SECTORM anufacturing Production Index and Capacity UtilizationSource: The Office of Industrial Economics% yoy%Private Investment IndexIndex (2010 = 100)Source: Bank of ThailandElectricity Consumption Growth% yoyBusiness Credits by Enterprise SizesSource: Bank of ThailandTrillions of BahtImport of Capital GoodsSource: Customs Department, Ministry of FinanceMillions of US Dollar (at 2010 prices)% yoy% yoy[M][M][M][M][Q]Remark: Business credits from commercial banks only2 Source.

4 Metropolitan Eectricity Authority and Provincial Electricity Authority, compiled by Bank of ThailandBusiness Sentiment IndexDiffusion Index (Unchanged = 50)Source: Bank of thailand [M]% yoy-30-20-100102030407090110130150170101 112131415161718 Private Investment Index%yoy (RHS)30354045505560650102030405060708091 011121314151617181920 BSIE xpected BSI (Next 3 months)-30-15015304560024681012060708091 0111213141516171819 SME CreditsLarge Enterprise CreditsLarge Enterprise Credits (%yoy) (RHS)SME Credits (%yoy) (R HS)20304050607080-75-50-250255075010815 MPI (% yoy)CAPU (%) (RHS)Remark.

5 Exclude imports of aircrafts, ships, floating structures, and locomotive by government and rent by private ,0002,0003,0004,0005,0001011121314151617 1819Im port of Capital Goods%yoy (RHS)-20-1001020300102030405060708091011 1213141516171819 Business SectorHousehold SectorSMEs SECTORN umber of SMEsSource: The Office of SMEs PromotionMillions of EnterpriseSMEs GDP Growth%yoyEmployment of SMEsMillions of EmployeeSource: The Office of SMEs PromotionSMEs Trade & Service Sentiment IndexSource: The Office of SMEs PromotionDiffusion Index (Unchanged = 100)Business Credit by Enterprise SizesSource: Bank of thailand % of Total Business CreditNon-Performing Loan of SMEs CreditSource: Bank of thailand % of SMEs Credit[A][Q][A][Q][M][Q]Remark: Outstanding business credit of Financial Institution including thai commercial banks, subsidiary, financial companies and credit fonciersRemark: SM = Special Mention Loan, NPL = Non-Performing LoanSM + NPL are outstandings of commercial banks only %Source.

6 The Office of SMEs Promotion302468101210111213141516171819% NPL / Total Loan% SM+NPL / Total and RetailService (Excluding Wholesale and Retail)Other-10-505101520101112131415161 71819 GDP of SMEsGDP506070809004812160203040506070809 101112131415161718 Total Employm entSME EmploymentSMEs to Total Employment (RHS)70809010011012013007080910111213141 516171819 TSSIE xpected TSSI (Next 3 months)010203040506070050607080910111213 141516171819 LargeMediumSmallFISCAL SECTORG overnment RevenueSource: Fiscal Policy Office, Ministry of FinanceTrillions of BahtGovernment ExpenditureTrillions of BahtSource: Bank of ThailandCash Balance to GDP% of GDPS ource: Bank of ThailandAccumulated Disbursement RateSource: The Comptroller General s Department% of BudgetTreasury CashSource: Fiscal Policy Office, Ministry of FinanceMillions of BahtPublic Debt to GDPS ource.

7 Public Debt Management Office% of GDP[Q][Q][A][M][M][M]% yoy% RevenueNontax RevenueTotal Revenue (%yoy) (RHS) ExpenditureTotal Expenditure (%yoy) (RHS)-5-4-3-2-10103040506070809101112131 41516171819200100,000200,000300,000400,0 00500,000600,000700, : Government expenditure includes cash payments for operating activities and purchases of nonfinancial assetsFYFY020406080100 OCTNOVDECJANFEBMARAPRMAYJUNJU LAUGSEPFY2016FY2017FY2018FY2019FY2020 HOUSEHOLD SECTORPer Capita Disposable IncomeSource: Office of the National Economic and Social Development Board Baht% yoyPrivate Consumption IndexIndex (2010 = 100)Source: Bank of ThailandPer Capita SavingBaht% yoySource: Office of the National Economic and Social Development Board Household DebtSource: Bank of thailand (Hosehold Debt Outstanding ) (Household Debt to GDP )% of GDPC onsumer Confidence IndexSource.

8 Ministry of CommerceUniversity of the Thai Chamber Of CommerceDiffusion Index (Unchanged = 50)Diffusion Index (Unchanged = 100)Gini CoefficientSource: Office of the National Economic and Social Development Board Ratio[A][M][A][M][Q][A]Remark: Household debt consists of overdrafts, general loans, non-negotiable bills and investments in account receivable with financial . Remark: Gini Coefficient is a measure of income ratio value between 0 and = Perfect Income Equality1 = Perfect Income InequalityTrillions of Baht5% yoy-10-505101520257080901001101201301401 5010111213141516171819 Private Consumption Index%yoy (RH S)40506070809010011002468101214070809101 11213141516171819 MillionsHousehold Debt OutstandingHousehold Debt to GDP (RHS)-202468101214020,00040,00060,00080, 000100,000120,000140,000160,000919293949 5969798990001020304050607080910111213141 51617 Per Capita Disposable Income% yoy (RHS)

9 -60-40-2002040608010002,0004,0006,0008,0 0010,00012,00014,00016,00091929394959697 9899000102030405060708091011121314151617 Per Capita Saving% yoy (RHS) (RHS)CCI_UTCC_Expected (RHS)LABOUR MARKETP articipation Rate and Dependency RatioSource: National Statistical Office, calculated by Bank of thailand %RatioUnemployment Rate%Source: National Statistical Office, calculated by Bank of ThailandUnderemployment Rate %Source: National Statistical Office, calculated by Bank of ThailandLabour ProductivitySource: Office of the National Economic and Social Development Boardand Bank of thailand % yoyAverage Wage Source: National Statistical Office, calculated by Bank of ThailandBaht per Month Unit Labour Cost Source: Office of the National Economic and Social Development Boardand Bank of ThailandIndex (2013 = 100)Remark.

10 Work <35 hours/week and available for additional work% yoy[A][M][M][M][Q][Q] Rate12 MMA (Unemployment R ate) Rate12 MMA (Underem ployment Rate)-10-5051015200203040506070809101112 13141516171819 AgricultureNon-AgricultureTotal05,00010, 00015,00020,000111213141516171819 AgricultureNon-AgricultureTotal-10-50510 1520020406080100120020304050607080910111 213141516171819 ULC Index%yoy (RHS)45464748495065676971737598990001020 30405060708091011121314151617 Participa