First quarter of the year The tourism sector and private con
Dec 12, 2023 9:35:00 GMT
Post by account_disabled on Dec 12, 2023 9:35:00 GMT
First quarter of the year The tourism sector and private consumption support the Thai economy amid a contraction in exports. The results of the government's decision-making are still an issue that needs to be watched starting in the first quarter of 2023. The Thai economy expanded higher than the market expected. Flash_GDP_Q12023-01 In the first quarter of 2023, the Thai economy expanded higher than market expectations. The Thai economy in the first quarter of this year continued to expand by 2.7% compared to the same period last year. Higher than the market expected (survey from Reuters) at 2.3% and if compared to the previous quarter.
The Thai economy in the first quarter expanded by 1.9% after adjusting for seasonal factors (QOQ_sa), compared Phone Number List to a contraction of -1.1% QOQ_sa in the previous quarter, supported by private consumption that continued to expand well. This is consistent with the tourism and service sectors recovering well after China's opening up. Meanwhile, merchandise exports and government consumption were important factors dragging down the economy in the first quarter. If economic activities in the production sector are considered (Production approach), many economic sectors continued to recover.
Led by the service sector that has expanded greatly From the number of foreign tourists who have traveled to Thailand, more than 6.5 million people in the first quarter of this year. In addition, the agricultural sector expanded accelerating due to favorable weather conditions and sufficient water for cultivation. However, the industrial sector continued to contract following a contraction in production for export. SCB EIC sees the Thai economy returning to pre-COVID levels by the middle of this year. and is likely to continue recovering from the tourism sector's momentum SCB EIC assesses that the.
The Thai economy in the first quarter expanded by 1.9% after adjusting for seasonal factors (QOQ_sa), compared Phone Number List to a contraction of -1.1% QOQ_sa in the previous quarter, supported by private consumption that continued to expand well. This is consistent with the tourism and service sectors recovering well after China's opening up. Meanwhile, merchandise exports and government consumption were important factors dragging down the economy in the first quarter. If economic activities in the production sector are considered (Production approach), many economic sectors continued to recover.
Led by the service sector that has expanded greatly From the number of foreign tourists who have traveled to Thailand, more than 6.5 million people in the first quarter of this year. In addition, the agricultural sector expanded accelerating due to favorable weather conditions and sufficient water for cultivation. However, the industrial sector continued to contract following a contraction in production for export. SCB EIC sees the Thai economy returning to pre-COVID levels by the middle of this year. and is likely to continue recovering from the tourism sector's momentum SCB EIC assesses that the.