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: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.

2 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: 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.

3 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: 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: 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.

4 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: 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: 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.

5 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: 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)-60-40-2002040608010002,0004,0006,0 008,00010,00012,00014,00016,000919293949 5969798990001020304050607080910111213141 51617 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.

6 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: 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 Participation RateDependency Ratio (RHS)AGRICULTURAL SECTORA gricultural ProductionSource: Office of Agricultural EconomicsIndex (2005 = 100)%yoyContribution to Agricultural Production Growth%Source: Office of Agricultural Economics, calculated by Bank of ThailandAgricultural PriceIndex (2005 = 100)Source: Office of Agricultural EconomicsContribution to Agricultural Price GrowthSource.

7 Office of Agricultural Economics, calculated by Bank of Thailand%Farm Income Source: Office of Agricultural Economics, calculated by Bank of ThailandIndex (2005 = 100)Water Level in ReservoirsSource: Royal Irrigation DepartmentMillions of m3%yoy%yoyDecember 2019[M][M][M][M][M][M]7 December 2019-30-20-10010203040050100150200250300 350071217 Agricultural Production index %yoy (RHS)-30-15015304504080120160200071217 Agricultural Price index %yoy (RHS)-4-3-2-1012 FisheryLivestockOther CropsEnergy CropsVeg & FruitFood Crops-30-1010305070010020030040050007080 910111213141516171819 Farm Income index %yoy (RHS)-10123 FisheryLivestockOther CropsEnergy CropsVeg & FruitFood Crops010,00020,00030,00040,00050,00060,0 0070,000 JANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDEC2017 2018201910 Years AveragePROPERTY SECTORLand and Residential Property Price Indexes Source: Bank of ThailandIndex (2009 = 100)Land and Building Transactions NationwideSource: Department of Land, Ministry of Interior, compiled by Bank of ThailandMillions of BahtOutstanding of Housing Loans for Personal ConsumptionSource: Bank of ThailandTrillions of BahtReal Estate Development Credit OutstandingSource: Bank of ThailandMillions of Baht[M][Q][M][M]Land and Residential Property Price Growth% yoySource: Bank of Thailand[M]Construction Area Permitted NationwideThousand sq.

8 MetresSource: Bangkok Metropolitan Administration , District Offices and Municipality in provinces, compiled by Bank of Thailand[M]%yoy%yoyRemark: Housing loans from financial institutions including commercial banks, depository specialized finance institutions, insurance corporations, and other financial institutionsRemark: Real estate development credit from commercial banks only880130180230171319253137434955616773 79859197103109115 Series1 Series2 Series3-10-50510152010111213141516171819 Detached HouseTown Housing Loan%yoy (RHS)5002,5004,5006,5008,500091011121314 1516171819 Construction Areas Permitted Nationwide12 MMA (Construction Area Permitted Nationwide)050,000100,000150,000200,0000 910111213141516171819 Land and building Transactions Nationwide12 MMA (Land and Building Transactions Nationwide)-20-15-10-505101520250150,000 300,000450,000600,000750,000091011121314 1516171819 Real Estate Developm ent Credit%yoy (RHS)SERVICE SECTORS hare of Service Sector in GDPS ource: Office of the National Economic and Social Development Board, calculated by Bank of Thailand% of GDPE mployment in Service SectorMillions of PersonSource.

9 National Statistical Office, Bank of ThailandInternal TourismTransportation Source: BTS GROUP HOLDINGS Public Company LimitedAirport of Thailand Public Company LimitedMillions of TripTelecommunication Source: National Broadcasting and Telecommunications Commission, calculated by Bank of ThailandIndex (2008 = 100)[Q][Q][M][M][Q]Wholesale and Retail Sale IndexesSource: Bank of Thailand (Wholesale index ) (Retail Sale index )%yoy[M]% yoy9 Millions of PassengerSource: TAT Intelligence Center, Tourism Authority of ThailandIndex (2002 = 100)Remark: Renevue of mobile network service providers-10-505101510121416182012131415 16171819No. of Employee in Service Sector%yoy (RHS)05010015020025030000010203040506070 80910111213141516171819 Wholesale IndexRetail Sale Index46485052545658609394959697989900010 20304050607080910111213141516171819 Service to GDP4 QMA (Service to GDP)036912150510152025080910111213141516 171819 Number of BTS RidershipAir Transport Passengers (RHS)12 MMA (No.)

10 Of BTS R iderships)12 MMA (Air Transportation Passengers) (RHS)-40-2002040601516171819 Thai Tourist TripsForiegn Tourist Trips-5051015202580100120140160180200091 0111213141516171819 Voice and Non-voice Revenue index %yoy (RHS)% yoy-600,000-500,000-400,000-300,000-200, 000-100,0000100,000200,000300,000400,000 500,000600,0001213141516171819 Thai Direct InvestmentThai Portf olio Investment AboardFinancial Derivatives and Other AssetsInternational Reserve Asset sForeign Direct InvestmentForeign Portf olio Investment in ThailandFinancial Derivatives and Other LiabilitiesNet I nternational Investment PositionEXTERNAL SECTOR (1)Balance of PaymentsSource: Bank of ThailandMillions of US DollarsInternational TradeMillions of US DollarsSource: Bank of ThailandCurrent Account Components and Current Account to GDPM illions of US DollarsSource: Bank of ThailandService, Primary Income and Secondary Income[Q][Q][Q][Q]Financial Account[Q]10 International Investment Position[Q]% of GDPM illions of US DollarsSource: Bank of ThailandSource: Bank of ThailandMillions of US DollarMillions of US DollarSource: Bank of Thail