Thailand tipped to score 3.5-4.0 percent growth this year
Staff Writer |
Thailand is forecast to register a 3.5 to 4.0 percent growth in the Gross Domestic Product (GDP) throughout this year, according to a report issued by the National Economic & Social Development Board.
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That may compare to a 3.2 percent growth in Thailand's GDP last year and an earlier prediction of a 3.3 to 3.8 percent economic growth announced last May.
Thailand has registered a 3.5 percent economic growth during this year's first six months or a 3.7 percent growth during the second quarter alone, reported the NESDB, the highest in 4 years since the first quarter of 2013.
The 3.7 economic growth during this year's second quarter accounted for a 1.3 percent increase from the first quarter which registered a 3.3 percent, reported the NESDB.
Domestic consumption registered a 3.0 percent growth during the second quarter of this year, compared to 3.2 percent growth during the first quarter, reported the NESDB.
The household incomes in agricultural sector as well as revenues in export sector and tourist sector have increased accordingly during the second quarter of this year, it reported.
Government expenditures have risen by 2.7 percent during the second quarter, compared to 0.3 percent during the first quarter while private investments have risen by 3.2 percent during the second quarter, compared to 1.1 percent drop during the first quarter.
Compared to the 3.2 percent increase in the private investments, the government investments dropped by 7.0 percent during the second quarter of this year, according to the NESDB report.
Nevertheless, state firms' investments increased by 20.5 percent during the second quarter, compared to 17.0 percent during the first quarter.
The export sector earned some 56.1 billion U.S. dollars in combined value and registered a 8.0 percent increase during the second quarter, compared to 6.8 percent rise during the first quarter, according to the NESDB report. ■