Economy in Q3 picks up

According to Pannee Sathavarodom, Fiscal Policy Office's Director General, said that the indicators for the economic recovery include the rise of value added tax collection in the third quarter by 3.1 per cent year-on-year. The value-added-tax collection rose by 0.7 per cent in the second quarter compared to the same period last year.

The sale of passenger cars rose by 2.3 per cent year-on-year, the first increase after the sale of passenger cars saw a minus growth since the fourth quarter of last year.

The sale of motorcycle saw a minus growth of 23.2 per cent, nonetheless. The figure showed that the economic recovery process has already started in the city but the recovery process has yet to reach the upcountry.

Pannee said that the private investment increases in the third quarter of this year as the imports of capital goods expanded by 4.9 per cent year on year, compared to the second quarter when the private investment rose by 3.9 per cent in terms of value. The private investment prior to that dropped year on year.

Commercial vehicles sale rose by 3.8 per cent in the third quarter year on year, after the minus growth in the past five quarters.

Tax collected from property transactions expanded by 5.2 per cent in the third quarter after the minus growth in the past four quarters. The trend shows that the investment is set to expand to next year.

The Nation

Wichit Chaitrong