Full-year GDP growth revised up after better-and-expected Q2 figure

Economy August 21, 2017 10:44

By The Nation

Thailand’s gross domestic product in the second quarter surprisingly grew 3.7 per cent, prompting the National Economic and Social Development Board (NESDB) to revise up its full-year growth projection from 3.5 per cent to 3.7 per cent.

The economy grew 3.3 per cent in the first quarter, said Porametee Vimolsiri, secretary general of the NESDB, on Monday at a press conference.

Second-quarter GDP growth was driven by exports, household consumption and private investment.

Private investment grew 3.2 per cent after contracting 1.1 per cent in the first quarter, while public investment contracted 7 per cent in the second quarter after growing 9.7 per cent in the first quarter.

Second-quarter consumption expanded 3 per cent compared to 3.2 per cent in the first quarter, while exports in dollar terms grew 8 per cent compared to 6.8 per cent.