webfact Posted November 15, 2021 Share Posted November 15, 2021 Photo by CHRISTOPHE ARCHAMBAULT / AFP Thailand’s economic gross domestic product (GDP) shrank 0.3% during the third quarter, compared to an increase of 0.1% during the second quarter and 7.6% during the same quarter of last year, mainly due to belt-tightening by consumers in the wake of a surge in COVID-19 infections, said Secretary-General of the National Economic and Social Development Council (NESDC) Danucha Pichayanan Monday. For the third quarter of this year, consumption by the private sector contracted 3.2%, compared to a 2.5% increase in the public sector. Investment in the private sector increased 2.6%,while public sector investment shrank 6%. Exports increased by 15.7% in value, while imports increased 31.8%. The current account deficit was registered at 3.6% of GDP. The inflation rate was at 0.7%. Full story: https://www.thaipbsworld.com/thailands-gdp-for-q3-contracts-0-3-forecast-to-increase-by-1-2-for-whole-year-nesdc/ -- © Copyright Thai PBS 2021-11-16 - Whatever you're going through, the Samaritans are here for you - Follow ASEAN NOW on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
RichardColeman Posted November 15, 2021 Share Posted November 15, 2021 From Link : For next year, the NESDC forecasts Thailand’s growth rate to increase to 3.5-4.5%, or an average of 4%, due to the slow recovery in the tourism sector, export expansion, disbursement of budgets and a recovery in domestic demand. If they do not get rid of the farce pass quickly they'll be lucky to get above 1% again if that's based on the predicted 10-14 million tourists next year. Link to comment Share on other sites More sharing options...
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