Page 62 - BAM ONE REPORT 2565 (ENGLISH VERSION)

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Meanwhile, exports in 2022 continued to grow driven partly by the expected increase in demand for food
products throughout the year and relief in shortage of electronic parts. Exports were projected to grow by 8.1% per
year (with a forecasting range of 7.6-8.6%), leading to improvement in private sector investment, particularly investment
in tools and machinery. Private investment was estimated to expand by 5.1% per year (with a forecasting range of
4.6-5.6%).
Bangkok Commercial Asset Management Public Co., Ltd.

On domestic stability, headline inflation in 2022 was predicted at 6.2% per year (with a forecasting range of
5.7-6.7%) as energy situation and supply chain problems have gradually been resolving. The government also
implemented measures to support people’s costs of living, thus bringing down the inflation rate in the remaining
period of 2022. As for external economic stability, current account deficit was predicted at USD -13.9 billion, or -2.7%
of GDP (with a forecasting range of -3.2% to -2.2% of GDP), caused mainly by the increase in imports.

Thailand's Economic Projections for 2022

2022
Description 2020 2021
Average Rank

1. GDP growth rate (%) -6.1 1.5 3.4 2.9 to 3.9
2. Total investment
2.1 Private (%) -8.4 3.3 5.1 4.6 to 5.6
2.2 Public (%) 5.7 3.8 1.8 1.3 to 2.3
3. Consumption
3.1 Private consumption (%) -1.0 0.3 7.9 7.4 to 8.4

3.2 Government consumption (%) 0.9 3.2 -2.0 -2.5 to -1.5
4. Inflation rate -0.8 1.2 6.2 5.7 to 6.7
5. International trade
5.1 Export value, growth rate (%) -19.4 10.4 8.6 8.1 to 9.1
5.2 Import value, growth rate (%) -13.3 17.9 7.5 7.0 to 8.0
5.3 Trade balance (billion USD) 40.9 39.9 23.6 21.1 to 26.1
5.4 Current account balance (billion USD) 17.6 -10.3 -13.9 -16.4 to -11.4

Proportion to GDP (%) 3.5 -2.0 -2.7 -3.2 to -2.2

Source: Fiscal Policy Office
Note: Forecast data as of 28 October 2022