Economy enjoys fastest quarterly growth since 2013

Breaking News November 20, 2017 10:10

By The Nation

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Higher-than-expected exports helped the Thai economy to grow at its fastest rate for more than four years in the third quarter.

The growth was 4.3 per cent, the highest for 18 quarters, Porametee Vimolsiri, secretary general of the National Economic and Social Development Board said on Monday, while Gross Domestic Product (GDP) grew 1 per cent from the previous quarter.

The export growth rate rose to 12.5 per cent, compared with 8 per cent in the second quarter, he added.Public investment shrank by 2.6 per cent, compared with a contraction of 7 per cent in the previous quarter.

Private investment growth slowed to 2.9 per cent compared with 3.2 per cent in the second quarter.

Household consumption expanded 3.1 per cent compared with 3 per cent growth rate previously.

The state planning agency is now forecasting full-year GDP growth rate of 3.9 per cent, up from the 3.7 per cent growth it had previously predicted.

The economy expanded by 3.3 per cent and 3.8 per cent in the first and second quarters respectively.

The NESDB projected next year GDP growth rate at 4.1 per cent.

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