Thailand PESTLE Insights – A Macroeconomic Outlook Report

Mining, manufacturing, and utilities activities contributed 32.5% to the gross value added (GVA) in 2022, followed by wholesale, retail, and hotel activities (19.9%), and financial intermediation, real estate, and business activities (13.8%). In nominal terms, the three sectors are expected to grow by 3.1%, 3.3%, and 3.3%, respectively, in 2023.

Bangkok metropolitan region accounted for 30.3% of Thailand’s gross domestic product and 15.3% of the country’s population in 2022, according to MarketLine cities database.

Scope

– The Cabinet approved a THB337.8 billion ($9.6 billion) infrastructure plan for the Eastern Special Development Zone (2023-2027). The program targets upgrading 77 transport network projects through promotional measures and advanced technologies.

Reasons to buy

- Macroeconomic Outlook Report identifies the potentials of the country as an investment destination by analyzing the political, economic, social, technological, legal and environmental (PESTLE) structure.

- PESTLE Insights provides 360 degree view of the economy which can be used as a strategic tool to understand the market dynamics, business potentials and direction of operations

- Along with providing the country’s snapshot, the report captures the risk factors pertaining to the macroeconomic risks, political environment, legal environment, demographic and social structure effectiveness, technology & infrastructure and natural and geographic aspects that might impact business.

- This report also highlights key clusters/cities which contribute significantly to the country GDP and population along with major companies’ presence in these areas.

Companies mentioned

Ptt

Cpall

ThaiBev

Table of Contents

List of Exhibits

Did You Know?

Country Highlights

Key Economic Updates

Country Snapshot

Political Landscape

Economic Landscape

Social Landscape

Technological Landscape

Legal Landscape

Environmental Landscape

Outlook

List of Tables

Exhibit 1: Thailand’s performance in terms of its country risk analysis in comparison to Asia-Pacific and the World average

Exhibit 2: Performance overview (score: 0-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: Thailand Stock Exchange Index – SET Index

Exhibit 5: Key sectors’ contribution to the economy

Exhibit 6: FDI inflows, FDI outflows, FDI inward stock and FDI outward stock (2018-22)

Exhibit 7: Greenfield FDI projects and net cross border M&A deals (2018-22)

Exhibit 8: Key infrastructure indicators

Exhibit 9: Real GDP and household consumption growth rate (2018-25f)

Exhibit 10: Real GDP growth rate comparison (2022)

Exhibit 11: Volume of exports and imports growth (2018-25f)

Exhibit 12: Current account balance (2018-25f)

Exhibit 13: Top three commodity exports, % of total exports (2018-22)

Exhibit 14: Exports of electrical machinery and equipment and parts thereof, % share of the world’s total (2022)

Exhibit 15: Interest rates (September 2018 – September 2023)

Exhibit 16: Exchange rate and inflation (2018-25f)

Exhibit 17: General government deficit (2018-25f)

Exhibit 18: General government debt (2018-25f)

Exhibit 19: Unemployment rate (2018-25f)

Exhibit 20: Average annual wages (2018-25f)

Exhibit 21: Labor cost index (2018-25f)

Exhibit 22: Rural/urban share of total population (1995, 2005, 2015, 2025f)

Exhibit 23: Age-group share of total population (2005, 2015, 2025f)

Exhibit 24: Gender split (1995, 2005, 2015, 2025f)

Exhibit 25: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2022)

Exhibit 26: Number of patents granted per million population (2022)

Exhibit 27: High-technology exports, % of manufactured exports (2021)

Exhibit 28: Rule of law (rankings) 2023

Exhibit 29: Corruption perceptions index (rankings) (2022)

Exhibit 30: Renewable energy capacity (2017-21)

Exhibit 31: CO2 emissions (2018-22)

List of Figures

List of Figures

Exhibit 1: Thailand’s performance in terms of its country risk analysis in comparison to Asia-Pacific and the World average

Exhibit 2: Performance overview (Score: 1-100)

Exhibit 3: Broad categories and weights behind the index

Exhibit 4: Thailand Stock Exchange Index – SET Index (November 2021 – November 2022)

Exhibit 5: Exchange rate (November 2021 – November 2022)

Exhibit 6: Key sectors’ contribution to the economy (2017-24f)

Exhibit 7: FDI inflow and FDI by sector (Q2 2021-Q2 2022)

Exhibit 8: FDI by country (Q2 2021-Q2 2022) and FDI share by country in Q2 2022

Exhibit 9: Key infrastructure indicators

Exhibit 10: Real GDP and household consumption growth rate (2017-24f)

Exhibit 11: Real GDP growth rate comparison (2021)

Exhibit 12: Exports, imports and trade balance (2017-2024f)

Exhibit 13: Current account balance (2017-24f)

Exhibit 14: Top three commodity exports, % of total exports (2018-21)

Exhibit 15: Nuclear reactors, boilers, machinery and mechanical appliances, % of world’s total (2021)

Exhibit 16: Interest rates (September 2017 – September 2022)

Exhibit 17: Exchange rate and inflation (2017-24f)

Exhibit 18: Public finance (2017-24f)

Exhibit 19: General government debt (2017-24f)

Exhibit 20: Unemployment (2017-24f)

Exhibit 21: Average annual wages (2017-24f)

Exhibit 22: Labor cost index (2017-24f)

Exhibit 23: Rural/urban share of total population (1995, 2005, 2015, 2025)

Exhibit 24: Age-group share of total population (1995, 2005, 2015, 2025)

Exhibit 25: Gender split (1995, 2005, 2015, 2025)

Exhibit 26: Internet users as a percentage of total population, mobile penetration rate and broadband penetration rate (2021)

Exhibit 27: Number of patents granted per million people (2021)

Exhibit 28: High-technology exports, % of manufactured exports (2020)

Exhibit 29: Doing business in Thailand (2020)

Exhibit 30: Corruption Perception Index (rankings) (2021)

Exhibit 31: Renewable energy, installed capacity (2016-20)

Exhibit 32: CO2 emissions (2017-21)

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