Skip to main content

BoT anticipates stronger economic growth in Q2

The central bank expects overall economic growth in the second quarter of 2018 to outperform the first quarter, thanks to rising exports.

Pornpen Sodsrichai, Director of the Economic Analysis Office at the Bank of Thailand (BoT), says the central bank is confident that the country’s GDP growth in the second quarter will be higher than that of the first quarter which accelerated to a five-year high of 4.8% year-on-year.

The second quarter GDP expansion was driven by thriving exports, tourism, and private consumption.

According to the director, some risk factors that could hamper Thailand’s GDP growth in the second half of 2018 include the tensions between China and the US which could lead into a trade war, international economic policies, and the unbalanced debt structure in Thailand.

Thai exports in June were valued at 21.755 billion US dollars, an increase of 10% year-on-year. And in the second quarter, exports surged 12.3% to 63 billion dollars.

In the meantime, Manufacturing Production Index (MPI) grew for 14 consecutive months in June 2018 at 4.7%, according to the Office of Industrial Economics.

Information and Source
Reporter : Thammarat Thadaphrom
Rewriter : Rodney McNeil
National News Bureau & Public Relations : http://thainews.prd.go.th


Labels:

Comments

Post a Comment

Popular posts from this blog

ACMECS leaders to implement master plan for 5-year development cooperation

 The leaders of countries participating in the Ayeyawady – Chao Phraya – Mekong Economic Cooperation Strategy (ACMECS) Summit, vowed to implement a five-year master plan for regional development, before the official opening ceremony this morning. The five member countries are Cambodia, Laos, Myanmar, Vietnam and Thailand, which also constitute the CLMVT cluster. Prime Minister Gen. Prayut Chan-o-cha presided over the opening ceremony. The summit is centered on approaches to carrying out the ACMECS Master Plan 2019-2023. The plan is the first of its kind to highlight infrastructure connectivity among the five member nations, as well as joint development of financial regulations and human resources. The summit is also expected to endorse the Bangkok Declaration. The declaration reflects the political intentions of ACMECS countries, while facilitating development cooperation in the region and the unification of the ASEAN bloc. World leaders, including Chinese Prime Minister Li K...
Post a Comment
Read more

Development of payment system in PTT gas stations

In the future, those who use the services of PTT petrol stations will be able to make convenient, fast, and safe payments through the PTT e-Wallet system. PTT and Kasikornbank recently signed an agreement to develop the PTT e-Wallet system. The system is expected to be launched in the last quarter of this year in keeping with the national e-payment policy of the government, which encourages more use of financial technology. Ms. Chiraporn Khaosawat, Deputy Managing Director of the Oil Business Unit of PTT Co., Ltd., recently dealt with the introduction of the PTT e-Wallet system as an alternative for customers in paying for goods and services at gas stations, that also offer convenience stores, using an application and cards. Since April, PTT has been using the system of paying for goods using QR codes. As a result, 20% more customers have come in to use the system. Therefore, it is likely that there will be more people turning up to make payments using the electronic system. Mr...
Post a Comment
Read more

Prayers in tribute to Royal Household taking place this Friday

A prayer service is to be staged this Friday August 17, 2018 at Dusit Palace in tribute to His Majesty the late King Bhumibol Adulyadej, Her Majesty Queen Sirikit of the Ninth Reign on the occasion of her birthday anniversary, and His Majesty King Maha Vajiralongkorn. His Majesty the King has graciously entrusted the Supreme Patriarch with leading 195 monks in performing the prayer while calling for the important Buddhist relic Phra Buddha Norasih to be the central Buddhist image. The prayer ceremony is a continuation of the “Dhamma Rachinee” practice initiated by Her Majesty Queen Sirikit of the Ninth Reign. Participants in the ceremony will receive royally bestowed prayer offerings that they will be able to take home to commemorate the occasion. The prayer book for the event can be downloaded at www.prd.go.th and the event will be broadcast via Radio Thailand, NBT, Thai TV Global Network (TGN) and NBT World. Parking will be provided at Suan Dusit Zoo and the Royal Turf Club f...
Post a Comment
Read more