Thailand’s Key Macroeconomic - BOT

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.

2 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: 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.

3 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: 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.

4 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: 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.

5 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: 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.

6 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)

7 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: 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.

8 Office of Agricultural Economics, calculated by Bank of ThailandAgricultural PriceIndex (2005 = 100)Source: Office of Agricultural EconomicsContribution to Agricultural Price GrowthSource: 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.

9 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. 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.

10 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: National Statistical Office, Bank of ThailandInternal Tour