Agricultural prices were affected by increasing demand
from the global economic recovery, rising demand for energy
crops as well as supply disruption from occurrences of natural
disasters in various countries, including Thailand. In particular,
-2.6 -4.0
-6.3
0.5
9.2
2.9 1.7
3.9
7.6
10.3
-9
-6
-3
0
3
6
9
12
U.S. EU Japan Asia-7* China
2009 2010
Note: * calculated by using weighted average of GDP-PPP among 7 Asian countries including Hong Kong, Indonesia, Malaysia,
Philippines, Singapore, South Korea and Taiwan Source: Bureau of Economic Analysis, U.S. Department of Commerce, Eurostat, Cabinet Office of Japan, CEIC and BOT’s calculation
World GDP for 2009 and 2010
%YoY
Thailand’s Economic Condition in 2010 3
prices of cassava and oil palm increased rapidly. Meanwhile, prices
of commodities excluding fuel also surged by 21.4 percent on a
yearly average basis. Since the Thai economy exhibited a net
trade surplus in non-oil commodities, rising agricultural prices
were beneficial to farmers. Thus, farm income registered a strong
growth rate of 24.0 percent despite lower agricultural supply
caused by occurrences of natural disaster