Thai economy improved in August due to domestic and external demand. Government measures boosted transportation and consumer spending. Automotive production improved but exports were hindered. Labor market stable with monitoring needed in construction and manufacturing.
The Thai economy has shown improvement compared to the previous month, largely due to a surge in tourism activities, with increased numbers of foreign tourists and revenue. Private consumption also rose, partly due to government stimulus measures, and there was growth in trade sector activities, manufacturing production, and private investment. Merchandise exports increased but remained focused in specific categories. Government spending expanded in both current and capital expenditures.
Key Points
- The Thai economy has shown improvement, largely due to a surge in tourism activities, increased private consumption, and higher merchandise exports.
- Inflation rates have risen, primarily driven by an increase in fresh food prices and a slight uptick in prepared food prices.
- The current account surplus has decreased, while the labor market remains stable compared to the previous month.
In terms of economic stability, headline inflation rose due to higher fresh food inflation, influenced by a low base last year and increasing vegetable prices. Core inflation slightly increased due to higher prepared food prices. The current account surplus decreased as the trade surplus diminished, while the services, income, and transfers showed a larger surplus. The labor market remained stable compared to the previous month. For more detailed information, two tables are attached and further inquiries can be made through the provided contact.
Source : https://www.bot.or.th/en/news-and-media/news/news-20250228.html
