Thai GDP falls short of expectations with 2.6% growth
Thailand’s growth fell short of forecasts, as a robust rebound in domestic consumption and tourism was unable to make up for the weakening export sector.
Finance Ministry Maintains 2023 GDP Growth Outlook at 3.8%
The Ministry of Finance is maintaining its economic growth outlook for 2023 at 3.8%, helped by a rebound in tourism and domestic demand, but exports are still expected to slow down this year.
The Ministry of Finance has indicated that the Thai economy may not meet the predicted economic growth of 3.8% next year as a result of deteriorated global economic conditions.
Finance Ministry lowers 2022 growth forecast to 3.4%
In 2023, the number of foreign tourists is expected to reach 21.5 million, but prior to the pandemic, there were nearly 40 million foreign tourists in 2019.