NESDB expects Thai economy in 2016 to grow by 3.2%

 

BANGKOK, 22 November 2016 (NNT) - National Economic and Social Development Board's (NESDB) Secretary General Paramethi Wimonsiri has reported that Thailand’s economic growth during the third quarter is expected to grow by 3.2 percent, which is a 0.6 expansion from the second quarter. 

Government investment grew by 6.3 percent while investment from the private sector dropped 0.5 percent. Exports returned to an uptrend for the first time in seven months, with an expansion of 0.4 percent, he said. 

He said that all manufacturing sectors were positive especially with farming, growing by 0.9 percent for the first time in eight quarters. Unemployment rate in the Kingdom remained at a low rate of 0.9 percent. 

He went on to say that the combined economic figures prompted the NESDB to forecast the Thai economy's full year growth to be at 3.2 percent, while economic growth in 2017 expected between 3-4 percent.

 

-- nnt 2016-11-22

Thai economy grows at 3.2% while the economies of it's neighbours grow at rates about double that.

Whilst Western economies grow at less than one third of that!

6 hours ago, Brer Fox said:

Thai economy grows at 3.2% while the economies of it's neighbours grow at rates about double that.

even 3.2% is an amazing feet if you believe it.

7 hours ago, Brer Fox said:

Thai economy grows at 3.2% while the economies of it's neighbours grow at rates about double that.

 

You are right. For a developing country like Thailand, 3.2% growth is not good. Our neighboring peers like Vietnam, Laos, Cambodia and even Philippines are growing above 7%. In simple terms, our economy is not producing enough and the demand for our goods and services are lacking. Thailand needs at least 6-7% GDP growth for next 5 years to bring the country to a middle income economy and a better living standard. The country lack visionary leaders likeThaksin (hate or love him), not a bunch of military generals. 

 

 

 

 

 

 

 

 

 

 

 

7 hours ago, Brer Fox said:

Thai economy grows at 3.2% while the economies of it's neighbours grow at rates about double that.

Its the story of the little engine. I thought I could I thought I could. 

Thailand the hub of hubris. 

8 hours ago, chiang mai said:

Whilst Western economies grow at less than one third of that!

 

1% growth of $60,000 (Norway) is still a lot more than 3.2% growth of $16,000 (Thailand).

 

*GDP per capital.

21 minutes ago, ExpatOilWorker said:

 

1% growth of $60,000 (Norway) is still a lot more than 3.2% growth of $16,000 (Thailand).

 

*GDP per capital.

 

It can't be helped if there's only 5 million people living in Norway and 70 million in Thailand, it's hardly a reasonable comparative assessment.

The reason for the slow growth is because of the current government You can read into it what you want and you are probably right

5 hours ago, chiang mai said:

 

It can't be helped if there's only 5 million people living in Norway and 70 million in Thailand, it's hardly a reasonable comparative assessment.

 

Then replace Norway with USA ($56,000) and 1% is still more than 3.2%.