Private sector remains optimistic about Thai economy in 2018

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) foresees continuous growth of the Thai economy this year due to several supporting factors.

According to Mr Predee Daochai, Chairman of the JSCCIB, Thai economic growth in 2018 is likely to reach 4.3-4.8 percent, with exports to expand by 7-10 percent and the inflation rate to stay in the range of 0.9-1.5 percent. Major economic drivers consist of exports, tourism, private investment and consumption and a rebound in agricultural income.

Nonetheless, the Chairman noted it is too early to assess the economic impact of the flood situation in the western and northeastern parts of Thailand, which are not major industrial zones. He added that the central region, where flooding often occurs, and industrial estates nationwide already have effective flood prevention plans in place.

In regard to the US-China trade war, Mr Predee said no significant impact has been seen in Thailand. He said the Thai export sector could even benefit from the trade conflict between the two superpowers as their trade partners might opt for products from Thailand. Only some product categories could be affected by the issue, such as steel, aluminum and washing machines.

Information and Source
Reporter : Surapan Laotharanarit
Rewriter : Surapan Laotharanarit
National News Bureau & Public Relations : http://thainews.prd.go.th

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