Thai economy in the first quarter collapsed Growth below target The result of the contraction is expected to be negative for the second quarter.
First quarter economy collapsed – Mr Don Nakornthap, senior director, Macroeconomic Department The Bank of Thailand (BOT) has revealed that the Thai economy in the first quarter of 2019 is expected to be lower than expected by 3.4% and to slow down compared to the previous quarter. As a result of the contraction of exports in many product categories Due to the slowdown in global market demand With export growth of -3.6% and the trend of exports in the second quarter of 2019 to expand continuously But it will improve Causing expansion economic growth throughout the year. It is unlikely to reach the 3.8% target, which the Monetary Policy Committee (MPC) will again consider the numbers
"If the economy in Q1 / 201 is expanding by 3.4%, while the growth of exports for the whole year is expected to be lower than the third estimate. be monitored again by the National Council for Economic and Social Development (NESDB).
For tourism in Q1 / 201, growth slowed. Partly because of the high base effect in the previous year, especially of Chinese tourists, however, overall domestic demand is still expanding well. Private consumption indicators expanded across all categories of expenditures. And government spending expanded from current expenditure While private investment indicators shrank slightly. Stability in the country Global inflation declined in line with core inflation and falling oil prices. The unemployment rate declined slightly from the previous quarter.
Mr Don said the Thai economy in March Expansion of the previous month by -4.2% according to economic conditions of trading partners And the effect of trade barriers between China and the US The number of foreign tourists was -0 , 7% due to the decline of European and Chinese tourists. Private consumption grew at a slower pace. In particular, expenditures in the non-durable category shrank according to fuel consumption. Government spending has shrunk over the same period last year. Private investment contracted. And the value of imports of products -5.8%