2025-02-19
Thailand's GDP rose by 3,2% in the fourth quarter of 2024, according to a report from the National Economic and Social Development Council (NESDC).
The Council's Secretary-General stated that growth was driven by government investment, exports, private consumption, and a recovery in the agricultural sector after five quarters of decline.
Despite this, private investment remained weak, particularly in the automotive and real estate sectors. The reason is said to be stricter lending regulations due to high household debt.
Inflation for 2024 was measured at 0,4%, down from 1,2% the previous year. Unemployment remained low at 1%. The current account surplus improved to 2,3%, compared to 1,5% in 2023.
NESDC predicts that the economy will grow by between 2025% and 2,3% in 3,3. The forecast is based on continued government support, increased private investment, a stronger tourism sector, and export growth.
At the same time, the Council urges the government to closely monitor the US's new trade policy and take measures to strengthen investment, exports and tourism.
Source: Newsline February 17, 2025
Text: The editorial staff
Image license: braden-jarvis, Unsplash, original image