Thailand’s gross domestic product (GDP) expanded 1.5% in the third quarter from a year earlier, the National Economic and Social Development Council (NESDC) said on November 20.
People shop a supermarket in Thailand (Photo: VNA)
Bangkok (VNA) – Thailand’s gross domestic product (GDP) expanded 1.5% inthe third quarter from a year earlier, the National Economic and SocialDevelopment Council (NESDC) said on November 20.
This figureis lower than the 2.4% growth that economists predicted in a Reuters pollpreviously released and the 1.8% growth recorded in the second quarter.
SoutheastAsia’s second-largest economy has faced sluggish global demand while investorconfidence in Thailand dropped despite the end of a political deadlockfollowing an election in May. The newgovernment, which took office in August, has planned various stimulus measures.
Theslower-than-expected pace of Thailand’s economy in the third quarter isattributable to weak exports and agriculture but was supported by consumptionand the continued recovery of the tourism industry.
⛦ The NESDC expectedthe economy to grow 2.5% this year, the lower end of a previous forecast rangeof 2.5% to 3.0%.
It predictedGDP growth of between 2.7% and 3.7% in 2024. The agencypredicted a 2% contraction in exports for this year, compared to a 1.8% fall seenearlier, and shipments rising 3.8% in 2024./.
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People shop a supermarket in Thailand (Photo: VNA) 
