Connect with us
Compliance and ethics Training Asia-Pacific Bangkok regional

Economics

Thai Economy continued to grow in December

Thai exports grew 9.3 percent while the number of incoming tourists for the same month increased 15.5 percent from November’s figure

Avatar

Published

on

Driven by tourism and export growth, Thai economy for the month of December continued to expand, said Mr Don Nakorntap, senior director of macro-economics of the Bank of Thailand.

For the month of December, he said that export grew 9.3 % while the number of incoming tourists for the same month increased 15.5 percent from November’s figure, especially tourists from China and Malaysia whereas more tourists from Russia were also reported.

The value of merchandise exports continued to expand in all major export destinations and most product groups, with a growth of 9.3 percent compared to the same period last year, or 10.0 percent when excluding gold.

The expansion was on the back of

(1) continued improvement in external demand for products such as rice, rubber products, telecommunication equipments, electronic parts,
and automotive and parts;

(2) continued increase in crude oil price contributed to the increase in export
of petroleum-related products; and

(3) increase in exports from industries which recently expanded
their production capacity such as hard disk drives (HDD). Steady-improved export trends alsocontributed to the growth of export-related manufacturing production, especially automotive, rubber products, and petrochemical products.

Inflation rate has slowed down in correspondence with a drop in energy and fresh food prices whereas seasonal unemployment rate has stabilized. Current account was in surplus in correspondence with increase in revenue of export and tourism sectors.

Mr Don said export and tourism would be the key players to further drive the economy this year which is in line with the trend of economic recovery abroad.

However, he added that the role of the two players would decline somewhat this year and replaced by domestic consumption which is expected to pick up while government spending will increase too this year after government’s investments for several projects were put off last month to this year.

Economic activity in the fourth quarter of 2017

Overall economic activity in the fourth quarter of 2017 continued to expand from the previous quarter, driven mainly by export of goods which showed strong growth both in terms of products and export destinations, and the tourism sector which continued to expand steadily.

Private consumption expanded mainly from spending on durable goods and services sector. The strong expansion of merchandise exports and continued growth in private consumption led to the expansio of overall manufacturing production.

Private investment also slightly improved. However, public spending contracted mainly from capital spending. On the stability front, both headline and core inflation accelerated from the previous quarter.

Source link

0/5 (0 Reviews)
Advertisement Load WordPress Sites in as fast as 37ms!
Comments

Economics

Aging society and skill shortage key issues in Thailand’s economy

According to Moody’s latest Research Announcement, Thailand will sustain fiscal and external strength regardless of political developments; but structural challenges persist.

Boris Sullivan

Published

on

13 June 2019 Singapore, June 13, 2019 — —Thailand will likely maintain continuity on infrastructure investment, after the country’s recent election results.

(more…)
0/5 (0 Reviews)
Continue Reading

Economics

Thai vehicle production shrinks 6.11% YoY in May

Thai vehicle production in May 2019 was 181,338 units, which is 6.11 percent lower than the previous year due to declines in both domestic and international markets.

National News Bureau of Thailand

Published

on

BANGKOK, 14 June 2019 (NNT) – The Thai vehicle production yield in May 2019 was lower by 6.11 percent year-on-year due to implications from both domestic and international markets, says Federation of Thai Industries.

(more…)
0/5 (0 Reviews)
Continue Reading

Economics

EIC cuts 2019’s growth forecast to 3.3%.

EIC has revised down the forecast for Thailand’s GDP growth in 2019 to 3.3%, from the previous projection of 3.6%.

Avatar

Published

on

The Office of the National Economic and Social Development Council (NESDC) reported that Thailand’s GDP expanded by 2.8%YOY (compared to the same period last year), or 1.0%QOQ_sa (seasonally adjusted compared the previous quarter) in Q1/2019.
(more…)
0/5 (0 Reviews)
Continue Reading
Advertisement

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 10,687 other subscribers

Press Release

Most Read

Trending