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183780
Mon, 05/23/2011 - 10:50
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http://m.oananews.org//node/183780
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Thai economy grows 3% in 1st quarter
BANGKOK, May 23 (TNA) - The National Economic and Social Development Board (NESDB) reported on Monday that the Thai economy grew by 3 per cent in the first quarter of this year, or 2 per cent after it was adjusted by seasonal factors, thanks to promising internal and external factors.
NESDB Secretary General Akom Termpitayapaisit acknowledged that the 3-per cent growth of the Thai economy in the January-March 2011 period was mainly cushioned by a historic export expansion of by 27.4 per cent in terms of the US dollar and by 18.6 per cent in terms of the Thai baht, to 56 billion US dollars and 1.71 trillion baht respectively.
The NESDB chief said that a surge in income of Thai farmers by some 41 per cent, thanks to increased farm produce by 12.2 per cent on average and rising prices by 25.7 per cent on average, as well as growing domestic tourism by 15 per cent year-on-year, household spending by 3.4 per cent year-on-year, private investment by 12.6 per cent year-on-year and consumer confidence; while declining unemployment also attributed to the 3-per cent growth rate in the first quarter of this year.
According to the Thai government's think tank, the average growth rate of the Thai economy is likely to maintain at 3.5-4.5 per cent this year as earlier forecast boosted by continuing improvements of the key factors.
NESDB cautioned, however, that there remain global risk factors facing the national economy, namely impacts from an economic downturn in Japan, rising interest rates and oil prices. (TNA)
NESDB Secretary General Akom Termpitayapaisit acknowledged that the 3-per cent growth of the Thai economy in the January-March 2011 period was mainly cushioned by a historic export expansion of by 27.4 per cent in terms of the US dollar and by 18.6 per cent in terms of the Thai baht, to 56 billion US dollars and 1.71 trillion baht respectively.
The NESDB chief said that a surge in income of Thai farmers by some 41 per cent, thanks to increased farm produce by 12.2 per cent on average and rising prices by 25.7 per cent on average, as well as growing domestic tourism by 15 per cent year-on-year, household spending by 3.4 per cent year-on-year, private investment by 12.6 per cent year-on-year and consumer confidence; while declining unemployment also attributed to the 3-per cent growth rate in the first quarter of this year.
According to the Thai government's think tank, the average growth rate of the Thai economy is likely to maintain at 3.5-4.5 per cent this year as earlier forecast boosted by continuing improvements of the key factors.
NESDB cautioned, however, that there remain global risk factors facing the national economy, namely impacts from an economic downturn in Japan, rising interest rates and oil prices. (TNA)
