The National Economic and Social Development Council (NESDC) predicts the Thai economy will grow by 3.5 to 4.5 per cent this year.
In the fourth quarter of last year, the Kingdom’s GDP grew by 3.7 per cent year on year, increasing from 3.2 per cent in the third quarter. This brings the last year’s GDP growth to 4.1 per cent.
This year, due to the risk factors such as the US-China trade war and the upcoming election, the country’s GDP growth is expected to be in the range between 3.5 and 4.5 per cent.
Largely due to the trade war, exports are expected to grow by 4.1 per cent in 2019, down from last year’s 7.7 per cent growth.
Meanwhile, the economic growth engines of private and public investment, are predicted to grow by 4.7 per cent and 6.2 per cent respectively.