The World Bank has trimmed its projection for Thailand's economic growth this year to 3.8% from 3.9% estimated earlier, due to a global slowdown and elevated trade tensions between the United States and China.
The revision was made in its twice-yearly Thailand Economic Monitor, published on Wednesday.
"Weaker global growth will likely impact the export performance of Thailand and restrain manufacturing activities in export-oriented industries," Kiatipong Ariyapruchya, World Bank senior economist for Thailand, said in a statement.
Continued implementation of public infrastructure projects and economic reforms can help catalyse domestic demand in 2019 and support medium-term growth, he said.
For 2018, growth is estimated at 4.1%, driven by strengthening domestic demand stemming from an upswing in private consumption and investment, the World Bank said.
Thailand's central bank predicts growth of 4% for this year after it estimated a 4.2% expansion for 2018. Official 2018 gross domestic product (GDP) data will be released on Feb 18.
Southeast Asia's second-largest economy expanded 3.9% in 2017, the best pace in five years.