Thailand’s economy is projected to rebound to 4.0 percent in 2021 and pick up further to 4.7 percent in 2022, underpinned by a recovery in domestic demand and supportive fiscal policy. 2022 manufacturing industry outlook Manufacturers eyeing growth It is unusual to see positive economic indicators paired with historic labor and supply chain challenges. As a result of pandemic-induced economic disruption and consumer behaviour shifts, E&M revenues in 2020 experienced the sharpest contraction in the history of our research. June 3, 2021. As mentioned in Electric Vehicle Outlook 2020, despite the auto industry being electrified, CO2 emissions will keep rising until 2033. Thailand Forecast. Thailand Industrial Production. Singapore’s GDP contracted 5.8 per cent in 2020, according to the advance estimates by the Ministry of Trade and Industry. Sales is projected to increase by 8.7% (YoY growth rate) in 2021 to 861,000 units. Thailand: Merchandise exports rise at a faster pace in February. Thailand. Consumer Outlook 2021: Cautious Outlook In Thailand Despite Signs Of Retail Sales Recovery. Thailand Foodservice Market Overview . Looking at the market performance at the start of 2019, we saw surprisingly low sales volumes for condos due to tightened lending policies, a strong Thai Baht, and a weak economy. Thailand's Pineapple Situation: 2021 Outlook Following a supply stumble continuously in 2019 and 2020, the situation of Pineapple crop and raw material supply in Thailand is believed to get back on its feet in 2021 despite this year's volume is still far less than its peak years back before 2018. Markets that have the right mix of industry fundamentals will be better positioned to capture this growth. The demand of the sector grew at an average rate of 4.0% a year between 1990 and 2017, and its share slightly went down to 29.4% (equivalent to 25.1 Mtoe) in 2017, which made it the second-largest consuming sector. April 8, 2022. David Feldman. The country’s GDP fell by over 6 percent in 2020 and many workers, especially those related to the tourism sector, lost their jobs. The rebound gathers pace The 3.8% decline in global E&M revenue, from US$2.1tn in 2019 to US$2.0tn in 2020, represents the most ... We expect industry revenues to rise 6.5% in 2021, as more territories emerge from lockdown, and a further 6.7% in 2022. The recovery gained momentum in 2021 on the heels of vaccine rollout and rising demand. EIC views the high household debt would be a perennial problem, and the low-income earners are facing with a … Thailand's TIV dropped by 21.4% in 2020 when compared to 2019. Not surprisingly, 2020 was one of the worst years for the market. The demand of the sector grew at an average rate of 4.0% a year between 1990 and 2017, and its share slightly went down to 29.4% (equivalent to 25.1 Mtoe) in 2017, which made it the second-largest consuming sector. Dublin, Dec. 08, 2021 (GLOBE NEWSWIRE) -- The "ASEAN Automotive Outlook, 2021" report has been added to ResearchAndMarkets.com's offering.. Sales is projected to increase by 8.7% (YoY growth rate) in 2021 to 861,000 units. But this is the trajectory for US manufacturing in 2022 emerging from the pandemic. Thailand: Inflation comes in at highest level since September 2008 in March. Like many countries, Thailand’s economy was hit hard by the COVID-19 pandemic last year. The industry sector had a 30% share in the total final energy consumption of Thailand in 1990 at a level of 8.7 Mtoe (see Figure 16-2). Thailand Freelance Platforms Market Revenue, 2015-2020, 2021-2026, ($ millions) Top Five Competitors in Thailand Freelance Platforms Market 2019 (%) The global Freelance Platforms market was valued at 2932.8 million in 2019 and is projected to reach US$ 5066 million by 2026, at a CAGR of 14.6% during the forecast period. June 23, 2021. Thai plastic industry to benefit from global economic recovery Following depressed conditions in 2020, both the domestic sales and the export volume of plastic products are projected to rise by an average of 2.0-3.0% per year over 2021-2023. From 2020 to Links. June 4, 2021. . … The report covers Industry Research Report Of Thailand Medical Devices, Dialysis Machine Market, Hospitals Medical Devices Market Thailand For new vans, the reduction target would be 31 % by 2030 (compared to 147 g CO2/km in 2021)”. IndustryOutlook: Outlook of Industry Business | Industry Outlook. Thailand Industrial ProductionMarch 2022 Data - 1988-2021 Historical. The report presents major market trends. Solar Industry Update. According to the January 2022 IMF World Economic Outlook, the global economy enters in a weaker position in 2022 due to caseloads of Omicron, mobility restrictions, rising energy prices, and supply disruptions. April 13, 2021. Thailand Construction Industry Report 2021: Key Trends and Opportunities, 2016-2020 & 2021-2025 - ResearchAndMarkets.com Read full article November 8, … Thailand has one of the most well-developed petrochemical industries in Asia. Like many countries, Thailand’s economy was hit hard by the COVID-19 pandemic last year. Exports of goods have provided substantial support to the Thai economy, driven by recovering global demand for automotive parts, electronics, machinery, and agricultural products. Insurance: Deals 2022 outlook Considering the record levels of deployable capital, we expect competition for insurance carrier targets and run-off blocks to remain strong. In the first half of 2021, the Thai economy expanded by 2.0 percent. Looking at the market performance at the start of 2019, we saw surprisingly low sales volumes for condos due to tightened lending policies, a strong Thai Baht, and a weak economy. Thailand’s automobile industry, which was stalled earlier by COVID-19 pandemic, will accelerate in 2021, achieving between 3 and 4 percent growth, according to analysts at one of Thailand’s leading banks. These twin forces also accelerated progress toward industry tipping points by several years. Businesses have al-ways changed with the times, Free Webinar: Food and Beverage Industry Outlook for 2021. Thai auto industry can expect bounce back in 2021. The country’s energy policy must evolve to accommodate this change. NREL/PR-7A40-80427 The fundamental disruption caused by the COVID-19 pandemic equates to an opportunity for the industry to remake itself in line with new societal realities and market needs. By Paul Wellener. Our 2021 Life Sciences Real Estate Outlook explores three key industry themes and establishes a reinvented approach to our geographic cluster rankings. COVID-19 is the biggest and longest shock to hit aviation Previous shocks cut 5-20% from RPKs and recovered after 6-18 months ... Thailand Egypt Nigeria Vietnam Airfinity's vaccination rollout forecast Thailand Freight and Logistics Market - Growth, Trends, Covid-19 Impact, and Forecasts (2021-2026) $ 3250 November 2021 ASEAN Cold Chain Logistics Market - Growth, Trends, and Forecast (2020 - 2025) $ 3750 January 2021 Robert Margolis. Paul Wellener, Deloitte’s Industrial Products & Construction leader, explores four trends emerging for manufacturers in the year ahead and beyond. Testing Resilience: Vietnam in Focus 2022. Insurers are buckled up to accelerate growth in 2022 Despite lingering concerns about COVID-19 variants, most insurers expect an accelerating economic recovery and additional digital technology investments in 2022. December 17, 2019 December 17, 2019. Theme 1: What’s driving the industry forward, and can it last? In 2021, the economy is anticipated a growth of 2.2% due to subdued export demand and slower-than-expected recovery of foreign tourism. Tourism, a principal driver of Thailand's economic growth, has been one of the hardest-hit sectors by the crisis. These include improving COVID-19 situations and economic conditions in many countries, thanks to their higher inoculation rates, plus the depreciating Baht. Market Insight. 2019* 2020E 2021E GDP Growth 2.4 -5.3 3.0 (2.8) Headline Inflation 0.7 -1.0 0.3 (0.8) Core Inflation 0.5 -0.1 0.1 (0.7) * Outturn, EEstimation ( ) Monetary Policy Report, December 2019 The Thai economy would significantly contract due primarily to exports of goods and services, before expanding in 2021 Headline inflation in 2020 and 2021 were The tourism industry in Thailand is on the rise, and it occupied the ninth rank in the world’s most visited countries list, which has been driving the hospitality industry in the country. We note that the economic impact of the Covid-19 pandemic has created a significantly low base from which to grow. About AMCHAM; Press Releases. Thailand's TIV dropped by 21.4% in 2020 when compared to 2019. INDUSTRY EXPERTS. Pineapple has long been a regular agricultural product that … The TPSO estimated that Thailand’s logistics industry was the fourth largest industry in the country’s service sector, generating economic outputs during the first half of … TRIS Rating forecasts Vietnam’s real gross domestic product (GDP) to grow by 5.6% in 2022, rebounding from a historic low of 2.6% last year caused by the Delta variant outbreak, which prompted the Vietnamese authorities to implement lockdown measures in major cities including Ho Chi Minh City (HCMC) and Hanoi in … These include the broad competitive environment (e.g. January 28 2p.m. Looking ahead to 2021, prices and supply should balance out. GDP from agriculture, forestry, and fishing Thailand 2012 to 2021 Growth of GDP from agriculture sector Thailand 2021, by segment Forecasted size of planted area for crops Thailand 2022, by type The Thailand Industry Outlook report evaluates the attractiveness of selected Thai industries to support credit evaluation for the bank’s clients over the next 3 years (2021-2023). The report considers a range of factors that will affect each industry over this timeframe. News Articles. Despite an expected return of student-led protests this year in the run-up to the next general election due by early 2023, we continue to expect Prayuth Chan-ocha, a former coup leader, to serve out a full four-year term as prime minister while the royalist-military alliance backing him maintains its tight grip on the country's politics. The world economy is forecasted to grow … June 23, 2021. 2021 Outlook perspectives report. Industry Outlook Analysis. Global demand for liquefied natural gas (LNG) increased to 360 million tonnes in 2020, according to Shell’s latest annual LNG Outlook - despite the unprecedented volatility caused by the COVID-19 pandemic, which resulted in lockdowns around the world. Looking ahead, 2021 oil demand is expected to recover strongly but remain lower than it was at pre–COVID-19 levels—about 4% lower in the base case, and about 7% lower in Rystad Energy’s second-wave scenario. Thailand Industry Outlook 2021-2023 | Bank of Ayudhya. Hospital Industry in Thailand is poised to grow at a CAGR of 4.3% by 2026. This could lead chemical companies to prioritize products based on circularity and carbon footprint, and to accelerate … The Thai Economy in Q2/2021 The Thai Economy in the second quarter of 2021 increased by 7.5 percent (%YoY) compared with a 2.6-percent contraction in the previous quarter. The pandemic's impact on the economy is continuing in 2021 as well, which resulted in the Bank of Thailand revised the economic growth forecast in 2021 down from 3.6% to 3.2% due mainly to a second wave of the virus in Thailand in December 2020 and the prolonged outbreak of COVID-19 abroad. These twin forces also accelerated progress toward industry tipping points by several years. Thailand healthcare, pharma and devices analysis, data forecasts from The EIU to support industry executives' decision-making Thailand’s energy policy focuses on reducing dependence on natural gas to enhance energy security. H1 2021 . Thailand’s TIV dropped by 21.4% in 2020 when compared to 2019. The commercial vehicle (CV) segment continues to dominate with a 56.6% share, and it is projected to reach 57.3% in 2021, driven by government stimulus measures in response to the pandemic. Industry Outlook for Thailand/ASEAN in 2021 and 2022. Unfortunately, it has slowed down again since the beginning of 2021 due to the resurgence of COVID-19. After seasonally adjusted, the economy grew by 0.4 percent from the first quarter (%QoQ sa). Developing Asia’s economic growth forecast is trimmed to 7.1% this year amid COVID-19 concerns; outlook for 2022 is 5.4% - ADB Report 2021 growth outlook is upgraded for East Asia and Central Asia, but downgraded for Southeast Asia, South Asia, and Pacific - ADB Report THAILAND OVERVIEW With the most recent waves of coronavirus in January and April 2021 Thailand’s hospitality industry continues to struggle and the outlook is deteriorating as the reality of a prolonged recovery sets in. But Thailand’s economic outlook remains highly uncertain … DUBLIN, Sept. 16, 2021 /PRNewswire/ -- The "Thailand Automotive Outlook, 2021" report has been added to ResearchAndMarkets.com's offering. Trend 2 - GDP Recovery and Tourism Industry. IMF Executive Board Concludes 2021 Article IV Consultation with Thailand. As a result, the Center for … The Thai economy will grow next year after contracting by almost 10% this year. 07/10/2021. Thailand’s household debt to GDP ratio stood at 89.3% in Q2/2021, slowed down yet remained high. Thailand Freight and Logistics Market - Growth, Trends, Covid-19 Impact, and Forecasts (2021-2026) $ 3250 November 2021 ASEAN Cold Chain Logistics Market - Growth, Trends, and Forecast (2020 - 2025) $ 3750 January 2021 Bangkok Market Outlook. ET Food Processing's Pan Demetrakakes and Dave Fusaro will look at the trends, twists and turns that will likely shape the food & beverage industry in 2021—such as changing consumer behavior, the prospects for an economic recovery, immunity-enhancing ingredients and plant-based … The country’s GDP fell by over 6 percent in 2020 and many workers, especially those related to the tourism sector, lost their jobs. 2021 Manufacturing Industry Outlook. 2 2021 Global Insurance Outlook From the EY Insurance leadership team The global insurance industry faces a truly unique moment in its long history. cruise industry, has released the annual 2021 State of the Cruise Industry Outlook. Thailand’s economy is projected to rebound to 4.0 percent in 2021 and pick up further to 4.7 percent in 2022, underpinned by a recovery in domestic demand and supportive fiscal policy. The insurance industry has been adapting to a changing business environment due to the rise of digital technology and more demanding customers. UPDATE 1-Thai fin ministry cuts 2021 GDP growth outlook on tourism slump. Digital Transformation and New Technologies Influencing Business. The growth of the Thailand retail industry has been largely driven by economic growth. Thailand’s TIV dropped by 21.4% in 2020 when compared to 2019. The second half of 2021 should show signs of recovery depending on how the economic and political situation fares, how the COVID-19 outbreak pans out, and whether the government introduces a property market stimulus measure. Industrial production in Thailand grew by 2.75 percent year-on-year in February 2022, surpassing market consensus of 2.5 percent and after a marginally revised 2.02 percent increase a month earlier, which was the weakest pace in four months. Thailand Foodservice Market size is projected to reach $672 million by 2026, growing at a CAGR of 4.2% during the forecast period 2021-2026. Kevin Wu. Dublin, Dec. 08, 2021 (GLOBE NEWSWIRE) -- The "ASEAN Automotive Outlook, 2021" report has been added to ResearchAndMarkets.com's offering.. Singapore’s GDP contracted 5.8 per cent in 2020, according to the advance estimates by the Ministry of Trade and Industry. Airline industry outlook Ezgi Gulbas Senior Economist 1 4th October 2021. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Thailand has a significant economic presence in Asia, with a gross domestic product (GDP) ranking in the region’s top ten. Bangkok Market Outlook. Next year, the Thai economy is expected to expand 3 to 4% from this year. Tris Rating maintains a negative outlook for the hotel industry in Thailand, with performance to remain under extreme pressure from the slow recovery of … Digital Transformation – It is the wholesale reimagining and reinvention of how businesses operate, enabled by today’s advanced technology. Key Market Trends Anticipated in Thailand in 2021. Car sales in Thailand surged 25.81 percent from a year earlier to 69,455 units in January of 2022, helped by an easing Covid-19 restrictions and government support, rebounding sharply from a 17.2 percent plunge in December 2021. Asia Pacific Market Outlook Soundbites. This article provides insights into past and present trends, challenges, and key success factors for the Thai chemical industry. Trend 1 - COVID-19 Pandemic and Lockdown in Certain Areas. This would allow greater international tourism and exports for Thailand then. Tweet. As a result of pandemic-induced economic disruption and consumer behaviour shifts, E&M revenues in 2020 experienced the sharpest contraction in the history of our research. For the World Energy Outlook 2021 (WEO-2021), four scenarios were modelled: the Net Zero Emissions by 2050 Scenario (NZE), the Announced Pledges Scenario (APS), the Stated Policies Scenario (STEPS), and the Sustainable Development Scenario (SDS). Consumer prices rose 0.66% in March over the previous month, coming in below the 1.06% increase recorded in February. Domestic travel is imperative in driving Thailand’s tourism in 2021. Here are some of the key findings from Deloitte’s 2022 insurance industry outlook. The commercial vehicle (CV) segment continues to dominate with a 56.6% share, and it is projected to reach 57.3% in 2021, driven by government stimulus measures in response to the pandemic. DDproper ty Thailand Proper ty Market Outlook 2021 2019 Auto Industry Briefing and 2020 Outlook. Everything you need to know about the industry development ... RPI of electronics, furniture, lighting, home item retail stores Thailand 2011-2021. June 23, 2021. Whilst the Ministry of Tourism and Sports approve marketing spending for 2022, their tourism promotion arm, the Tourism Authority of Thailand, have been throwing around more highly optimistic arrival figures for next year. Industry Outlook . Sales is projected to increase by 8.7% (YoY growth rate) in 2021 to 861,000 units. Amid the ongoing impact of the … Foodservice refers to the catering services that serve food to the customers outside their homes. Sales is projected to increase by 8.7% (YoY growth rate) in 2021 to 861,000 units. Figure 7: Thailand’s electricity generation by fuel, 2016 11 Figure 8: Electricity consumption by economic sector, 2015 12 Figure 9: Thailand’s total renewable electricity generating capacity, 2000-2016 20 Figure 10: The shares of renewable energy production under the AEDP by sector in 2015, 2021 and 2036 23 Promoting shared economic prosperity between Thailand and America since 1956. In brief. The pandemic's impact on the economy is continuing in 2021 as well, which resulted in the Bank of Thailand revised the economic growth forecast in 2021 down from 3.6% to 3.2% due mainly to a second wave of the virus in Thailand in December 2020 and the prolonged outbreak of COVID-19 abroad. GlobalData’s report, “Polyethylene Terephthalate (PET) Industry Outlook in Thailand to 2021 - Market Size, Company Share, Price Trends, Capacity Forecasts of All Active and Planned Plants”, provides up to date in-depth information on Thailand’s Polyethylene Terephthalate (PET) industry. 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