Make this your homepage
Business News
Home > Business News
Thailand's economic growth up 2.7% in Q1
Thailand's economic growth up 2.7% in Q1

Bangkok, May 16 : Thailand's economy grew 2.7 per cent in the first quarter of the year, thanks to a recovery in tourism and higher agricultural output, the country's economic planning agency has said.

Southeast Asia’s second-largest economy has suffered a patchy pandemic recovery but the National Economic and Social Development Council expects the Thai economy to grow between 2.7 and 3.7 per cent this year.  The January-March expansion marked a pick-up from 1.4 per cent in the previous quarter, the council said. 

“Our domestic economy does not have any major problems. Consumption and the tourism sector continue growing,” Council secretary Danucha Pichayanan told reporters.  Border restrictions during the pandemic battered the kingdom’s key tourism industry, which previously accounted for around a fifth of national income. 

So far this year, there have been 6.5 million international tourist arrivals, the council said.  Danucha acknowledged that many Thai households were struggling with high energy costs.  Ahead of the election major parties were locked in a financial bidding war to secure votes from low-income households struggling for survival as the cost of living soared.  An incoming government must prioritise boosting exports and finding new potential markets by speeding up free trade negotiations, the council said.

Add your Comment
Comments (0)

Special Articles

Sanjay Majumder Sanjay Majumder
Anirban Mitra Anirban Mitra