Connect with us

Economics

Thailand’s Q1 growth reaches 4.8 percent to Five-Year High

Thailand’s first quarter growth has expanded by 5 year high of 4.8 percent, according to the country’s economic monitoring agency.

Published

on

Thailand’s first quarter growth has expanded by 5 year high of 4.8 percent, according to the country’s economic monitoring agency.

Deputy Secretary-General of the National Economic and Social Development Board, Wichayayuth Boonchit revealed that the high growth was attributed to a 3.6 percent boost in private sector consumption as a result of the government’s assistance plan for low income citizens.

Low inflation and interest rates, coupled with continued private sector investment from last year’s 4th quarter, were also contributing factors. reports Thailand’s news agency NNT

Most notably, applications for investment assistance in the Eastern Economic Corridor (EEC) have reached 165 billion baht while government investment has seen positive growth for the first time in four quarters.

Meanwhile, exports have continued to expand at a rate of 9.9 percent, approaching 61.9 billion US dollars. Increased demand due to growth in exports and private sector consumption has resulted in a 3.7 percent growth in the industrial sector due to increased demand.

The agricultural sector has also benefited from favorable weather conditions and sufficient water supply, expanding at a rate of 6.5. In addition, the tourism sector has garnered up to 573 billion baht from foreign visitors and 267 billion from domestic tourists.

The board has therefore adjusted its growth forecast for this year to 4.5 percent, up from the previous figure of 4.1, with a range of between 4.2 and 4.7 percent.

Economics

Asia’s slow rate of vaccination is a thorn in the region’s economic recovery

Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.

Published

on

Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.

(more…)
Continue Reading

Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

Published

on

BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

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

Join 14,162 other subscribers

Wise

Recent