NESDB and BoT confirm 3.3 percent growth rate for first quarter

Economic growth rate for the first quarter of this year was registered at 3.3 percent compared to last quarter’s 3 percent and 3.2 percent growth rate for 2016, said National Economic and Social Development secretary-general Paramethi Wimonsiri on Monday.

The first quarter’s growth rate was spurred by export expansion registered at 2.7 percent, household consumption growth of 3.2 percent and 1.7 percent in overall investment increase.

On the production sector, Mr Paramethi disclosed that agriculture expanded 7.7 percent followed by 1.2 percent increase in industries, 2.8 percent growth in construction, 5.9 percent growth in transport, 5.9 percent growth in trade and 5.3 percent growth in hoteling and restaurant business.

He is confident that growth rate for the whole year would be 3.5 percent against earlier projection of between 3.0-4 percent.

The Bank of Thailand also confirmed that the growth rate for the first quarter of this year was 3.3 percent which was higher than projection.

Source: Thai Public Broadcasting Service (Thai PBS)

Post Author: thailandmirror.com