Thailand’s economic outlook for 2025 faces significant headwinds, with the recent earthquake expected to cause substantial financial losses and potential US tariff hikes threatening to dampen GDP growth, according to economists at a Fitch Ratings seminar on Tuesday.
Yunyong Thaicharoen, senior executive vice president at Siam Commercial Bank, presented his “Thailand’s 2025 Economic Outlook,” forecasting a 2.4% GDP growth amidst rising global uncertainties.
He highlighted the looming threat of US tariffs, scheduled for announcement on April 2nd, targeting countries with trade surpluses with the US, including Thailand.
With a 45 billion baht trade surplus, Thailand could see its GDP reduced by 1% if the US imposes a 10% tariff, though the final rate and subsequent negotiations will determine the actual impact.