The fluctuating global economy and the trade war between China and the US which has reduced the export sector has caused the Thai economy in the first quarter of this year to grow at a slower pace, at 2.8 percent compared to 3.6 percent in the last quarter of 2018.
Thailand’s economy posted the strongest growth in five years in 2017 and is expected to maintain the outlook this year, driven robust exports and tourism.
The Office of the National Economic and Social Development Board (NESDB) has forecast that Thailand's 2017 economy will expand by 3.9 percent and will continue its growth momentum into next year.
Thailand’s economy grew by 3.2 percent in Q1 of 2016 compared to the same period last year thanks to government spending and tourism, the National Economic and Social Development Board said.