Thailand's economic activity improves in February -central bank

March 31, 2023 06:46 PM AEDT | By Reuters
Follow us on Google News:
Image source: Reuters

BANGKOK (Reuters) - Thailand's economy in February continued to improve compared with the previous month as the value of exports rose while private consumption and tourism activities also increased, the central bank on Friday.

Economic activity was seen rebounding, alongside rising tourist arrivals, the Bank of Thailand said in a statement, adding it would monitor any impact from global banking problems, as well as due to higher costs and China's reopening.

On Wednesday, the BOT trimmed its projections for economic growth to 3.6% this year and 3.8% next year, down from earlier forecasts of 3.7% and 3.9%, respectively.

But it raised its forecasts for foreign tourist arrivals to 28 million this year and 35 million next year, up from 25.5 million and 34 million, respectively. That compared with a record of nearly 40 million visitors in pre-pandemic 2019.

Thailand recorded a current account surplus of $1.3 billion in February, after a revised deficit of $2.1 billion in the previous month, the central bank said.

The value of exports, a key driver of growth, declined 4.1% in February from a year earlier but rose from the previous month.

(Reporting by Orathai Sriring and Kitiphong Thaichareon; Editing by)


The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK