Thai Economy

Thai Economy Growth Slightly Lower in September

Thailand Economic GrowthPhoto by Jash Chhabria on Unsplash

The Bank of Thailand (BoT) disclosed that Thai Economy Growth was slightly slower in September than in the month before. Domestic demand expanded from strong private consumption in most categories as well as public spending. Private investment, however, remained unaltered. External demand slowed following a decrease in merchandise exports, in line with the contraction in manufacturing production. At the same time, the tourism industry marginally expanded, mainly due to the arrival of tourists from ASEAN countries.

Major Thai Economic Indicators

  • The Office of Agricultural Economics announced that nominal farm income decreased 4.0%
    Year over Year.  Agricultural production expanded by 2.1% Year over Year, with agricultural prices falling at the same time 6.0% Year over Year.
  • The Office of Industrial Economics recorded a decrease in industrial production of 2.6%
    Year over Year and 1.2% Month over Month.
  • The Private Consumption Index expanded by 4.4% Year over Year but decreased 0.2% Month over Month.
  • The Private Investment Index (PII) remained unchanged  Year over Year but receded by 1.7% Month over Month.
  • Foreign tourist arrivals edged up by 2.1% Year over Year to 2.656 Million people.
  • Government revenue increased by 9.9% Year over Year and fiscal expenses grew by 11.4% Year over Year.
  • Exports declined by 5.5% Year over Year to 20.705 billion USD while imports increased by 14.3% Year over Year to 18.743 billion USD, resulting in a trade surplus of  1.963bn.

 

ThaiVest Editorial Team