Aggregate Supply and Demand Analysis of Thailand Assignment Help

To assess your ability to research the drivers of aggregate supply and demand in your chosen country. You are asked to analyze a country's economy through the application and analysis of economic data. In this week's assignment you are asked to assess the possible drivers of aggregate supply and demand in your chosen country based on the economic data you have collected.

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Business brief

Responsible variables to cause the shift of the AD and AS curve for Thailand

Thailand is one of the most attractive developing countries in the Asian region. The country has substantially improved its overall infrastructure. The country has significantly developed its overall industrial and manufacturing sectors. The major part of the country's revenue is generated from international trade. Electronics, agricultural commodities, processed foods and automobile supplies are the major products exported by the country. The industry and service sector of the country contribute more than 90% of the total GDP (Jansen, 2016).

Considering the economic data table it can be clearly seen that the per capita GDP of Thailand has significantly increased over the last few years. In 2015, the estimated PPP of the country was $16,700 whereas in 2017 it increased to $17,900. The industrial growth rate of the country also increased to 1.6% in 2017. The decreasing trend in the unemployment of the country has also created a significant impact on the AD curve. The FDI investment has also increased from $193.5 billion in 2016 to $227.8 billion in 2017. The increase in the spending of the government also is one of the reasons to shift the AD and AS curve for Thailand.

Most impactful variables in the respect of GDP of Thailand

The real growth rate of the GDP of Thailand has reported a significant growth in the last few years. In 2015 the real GDP of the country was 3.3% whereas, in 2017 the real GDP of the country increased to 3.9%. The purchasing power parity of the GDP was $1.152 trillion in 2015. It increased to $1.236 trillion in 2017. The GDP of the country mainly get affected by the following factors- net export of the country, the consumption level of the population, spending policy of the government and business investment structure (Anatasia, 2015).
Being an international trade intensive economy, revenue from exports creates a significant impact on the overall GDP of Thailand. In 2017, the revenue from the export activities has contributed 68.2% in the total GDP. Thus it can be stated that any changes in the global market will have a significant impact on the export scenario of the country. In turn, any significant change in the export revenue of the country will create a considerable impact on the GDP of Thailand.

The consumption level of the population also has created an impact on the GDP of Thailand. In this respect, the GDP (PPP) has increased significantly to $1.236 trillion for the year 2017. Even the per capita GDP of Thailand has increased to $17,900 for the year 2017. As the purchasing power of the population is increasing it signifies that the earning of the population is also enhancing.

The government of Thailand is focusing to enhance the infrastructure of the country. This, in turn, attracting new investments in the country. As a result, the overall GDP of the country is flourishing as the total value of the economy is increasing rapidly (Gemmell et al. 2016).

Additional data considered to determine the changes in GDP

The GDP of Thailand has witnessed rapid growth in the last few years. In this process, the above section of the study has highlighted the key variable components that are impacting the GDP of the country directly. Although, in this process, certain other factors are also needed to be considered through which the changes in GDP can be evaluated thoroughly. For instance, the income parity of the population, the labour force distribution, the taxation framework of the country and similar other factors could be considered in this respect. 

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