November economic figures positive

November economic figures positive

FILE photo

BANGKOK, 27th December 2018 (NNT) – Investment and consumption continued to drive the Thai economy in November with tourism numbers also positive. 

Director of the Macro Economic Policy Office of the Fiscal Policy Office (FPO) Pisit Puaphansaid today that supporting factors in November included an uptick in private consumption with 12.8 percent growth in vehicle sales. Value Added Tax climbed 9.6 percent to a four month high in November and investment in the machinery sector grew 26.9 percent, the highest rate in 17 months. 

While exports dropped to only 0.95 percent growth on-year, hitting a value of 21.2 billion USD, growth by market in major markets such as the US, Japan and CLMV was still high with export growth to the US the highest in seven months. 

Tourism in November returned to positive territory, growing 4.5 percent on-year. A total 3.18 million people visited Thailand last month with travelers from Malaysia up 44.6 percent, the highest number in 41 months. Foreign tourists brought over 167.4 billion baht into the country in the month. 

Overall, the Thai economy is in satisfactory territory with inflation at 0.9 percent and slowing due to a fall in world fuel prices. Public debt to GDP is at 41.7 percent, well under a ceiling set at 60 percent.

 

-- nnt 2018-12-27