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Economy in Brief

2005 GDP in Thailand:  Last of Major Pacific Rim Countries to Report
by Louise Curley March 6, 2006

Thailand released data on its fourth quarter Gross Domestic Product today. GDP in the fourth quarter was 4.71% above the fourth quarter of 2004. For the year as a whole, the increase in GDP was 4.48%, compared with a rise of 6.16% last year. Slower growth in private consumption, gross fixed capital formation and exports of goods and services outweighed the positive impacts of lower imports, higher inventory accumulation and a sharp increase in government consumption expenditures.

With the release of Thailand's data, 2005 data for all the countries, except Pakistan and Vietnam, in the Haver Data Base EMERGEPR are now available. (Data for Pakistan and Vietnam are reported only on an annual basis. The latest data are for 2004.)

Growth in most countries was below that of 2004. The exceptions were China, India and Indonesia. Growth in China and India showed little trend during the year, but was maintained at high levels--above 7% for India and above 9% for China. While growth in Indonesia, averaged an increase in 2005, the trend throughout the year was downward.

The quarterly trend of year over year growth varied. In Malaysia, as in Indonesia, the trend was downward as shown in the first chart. In Singapore, South Korea, the Philippines and in Taiwan, there was a definite upward trend during the year. The second chart shows the year to year percent change in GDP for South Korea and Taiwan.Growth in Hong Kong and Thailand, like India and China showed little trend during the year. The year to year percent changes in GDP for these countries are shown in the third chart.

Gross Domestic Product
 Y/Y % Change
Q4 05 % Q3 05 % Q2 05 % Q1 05 % 2005 %  2004 %
China 9.9 9.8 10.1 9.9 9.9 9.5
India 7.71 7.93 8.22 7.09 7.74 7.51
Hong Kong 7.38 7.82 7.35 6.57 7.28 8.60
Indonesia 4.92 5.67 5.64 6.21 5.60 5.06
Malaysia 5.12 5.25 4.35 6.20 5.23 7.14
Philippines 6.20 4.49 5.15   4.49 5.09  6.01 
Singapore 8.45  7.60 5.70 3.57 6.35 8.72
South Korea 5.39 4.55 3.39 2.75 4.03 4.66
Taiwan 6.51 4.40 3.02 2.59 4.12 6.13
Thailand 4.71 5.40 4.54 3.26 4.48 6.16
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