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Very Very Very Over the past few years, the economy has grown below most other
High High High regional neighbor economies and Thailands own historical growth
record. The slower rate of growth can be attributed to increased
political instability and lower global demand. While the political
situation is largely stable under military rule, the continued delay of
High High High democratic elections and further uncertainty will constrain growth
prospects. GDP growth is forecasted at 3.0% for 2016, with future
growth expected in the range of 3.0 - 3.5% over the medium term.
Russia
Kazakhstan nd
s
la
Is
Mongolia ril
Ku
Turkmenistan
Tajikistan North Korea
Risk China
South
Korea Japan
Afghanistan
Iran
Kuwait
Pakistan Nepal
Bahrain Bhutan
U.A.E.
Bangladesh
Taiwan
Macau
Thailand
Yemen Vietnam Philippines
Country Risk Tier 4 (CRT-4) Cambodia Guam
Somalia
Sri Lanka
Palau
Brunei Federated States
New Guinea
Seychelles
Indonesia
Country Risk Tier 2 (CRT-2) East Timor
Papua
New Guinea
Copyright 2016 A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED. No part of this report or document
may be distributed in any electronic form or by any means, or stored in a database or retrieval system, without the prior written permission of
A.M. Best. For additional details, refer to our Terms of Use available at A.M. Best website: www.ambest.com/terms.
AMB Country Risk Report Thailand
%
3
Traditionally, Thailands economy had been
based on agricultural exports; in recent
2
decades, the economy has transformed.
1 Current key economic drivers include the
0
industrial and service sectors.
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
-1
Low levels of inflation and weaker than
-2 expected growth has kept monetary policy
accommodative.
Source: IMF World Economic Outlook and A.M. Best
2
AMB Country Risk Report Thailand
30,000 150
about high levels of household debt and
interconnected financial conglomerates.
20,000 100
In 2015, inflation moved into negative
territory largely as a result of lower
10,000 50 commodity prices and weak demand,
undershooting the Bank of Thailands
inflation target band of 2.5% +/- 1.5%. In
0 0
Thailand Indonesia Malaysia Philippines Singapore Vietnam 2016, inflation is expected to return to
positive territory.
Source: IMF and A.M. Best
3
AMB Country Risk Report Thailand
Copyright 2016 A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED. No part of this report or document
may be distributed in any electronic form or by any means, or stored in a database or retrieval system, without the prior written permission of
A.M. Best. For additional details, refer to our Terms of Use available at A.M. Best website: www.ambest.com/terms.