Thailand ‘the laggard in ASEAN GDP growth’
Thailand will trail all ASEAN countries in growth because its open economy and export dependence leave it directly exposed to the global and Chinese slowdowns, according to the World Bank.
Thai gross domestic product this year is expected to grow by 2.5 per cent, while the East Asia-Pacific region is expected to race ahead by 6.5 per cent this year, 6.4 per cent next year and 6.3 per cent in 2017. This is down from 6.8-per-cent actual growth last year.
Among the large ASEAN economies, growth conditions will be most buoyant in the Philippines and Vietnam. In Indonesia and Malaysia, the outlook for business profits and household incomes is clouded by weak global commodity prices. In Thailand, uncertainty and economic vulnerabilities will continue to weigh on growth.
