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Thailand’s economy picks up slightly in Q1

Thailand’s economy slightly grew in the first three months of the year, a positive sign after a difficult period since the death of King Bhumibol Adulyadej.
Thailand’s economy picks up slightly in Q1 ảnh 1Thai rice - Illustrative photo (Photo: VNA)

Hanoi, (VNA) – Thailand’s economy slightly grew inthe first three months of the year, a positive sign after a difficult periodsince the death of King Bhumibol Adulyadej. 

According to data released on May 15, the country’ grossdomestic product expanded 3.3 percent year – on – year in the first quarter, up3 percent from the previous quarter.

Growth in agriculture, government expenditure and exportsdrove the expansion of economy of the Southeast Asian country, said PorameteeVimolsiri, secretarygeneral of Thailand’seconomic planning agency.

Healso said the country’s economy is expected to grow between 3.3 and 3.8 percentin 2017, compared to 3.2 percent in 2016.

Besidesthe long national mourning period for the King which affects Thailand’sconsumption, its economy faced political unrest, high household debt andfalling export competitiveness.

Experts forecasted the country’s economy to pick up a little furtherbut high household debt and political instability will continue to negativelyaffect its long-term growth prospects. -VNA

VNA
#Thai economy#positive sign#death of King Bhumibol Adulyadej#agriculture#government expenditure#exports#political unrest#high household debt#falling export competitiveness#long-term growth prospects
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