An increase in Thailand’s gross domestic product (GDP) in the final quarter of last year has contributed to Thailand’s 5.3 per cent economic growth for the entire year – slightly higher than the predicted 5 per cent expansion, according to Kasikorn Research Centre.  

It said the positive momentum will possibly spill over into this year when the GDP could expand by 5.3 per cent in the first quarter thanks to the improving economy abroad.   The research centre limits this year’s forecast GDP growth at 4.5-5.5 per cent due to the possible impact from surging production costs and the appreciating Thai baht since earlier this year.   The two components might put pressure on the revival of Thailand’s business and exports, the centre forecast.   It said the government’s measures to alleviate the impact and accelerated budget spending on water resource management and infrastructure will help move the Thai economy ahead Thailand’s 2012 economic growth 5.3%, higher than predicted | MCOT.net

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Will cryptocurrency expansion continue among emerging markets in 2022?

Emerging markets were at the forefront of last year’s massive growth in global cryptocurrency adoption. With this growth widely tipped to continue into 2022, a range of countries will see their crypto markets mature or expand.

Which emerging markets are looking to bolster electric vehicle production?

Thailand is not alone in the region when it comes to building up its EV capacity, with Indonesia also unveiling a series of measures in recent years.

Thailand to post GDP growth of 3.2% in 2022 and 4.5% in 2023 (Fitch)

Thailand’s economic recovery is strengthening, although rising inflationary pressures and slower global growth pose risks to the near-term rebound, according to Fitch Ratings’ analysts at its 2022 Thailand Sovereign and Bank Outlook Webinar.