World

Thai economic growth slows in the third quarter

Thailand’s gross domestic product (GDP) expanded 1.5% in the third quarter from a year earlier, the National Economic and Social Development Council (NESDC) said on November 20.
Thai economic growth slows in the third quarter ảnh 1People shop a supermarket in Thailand (Photo: VNA)

Bangkok (VNA) – Thailand’s gross domestic product (GDP) expanded 1.5% inthe third quarter from a year earlier, the National Economic and SocialDevelopment Council (NESDC) said on November 20.

This figureis lower than the 2.4% growth that economists predicted in a Reuters pollpreviously released and the 1.8% growth recorded in the second quarter.

SoutheastAsia’s second-largest economy has faced sluggish global demand while investorconfidence in Thailand dropped despite the end of a political deadlockfollowing an election in May. The newgovernment, which took office in August, has planned various stimulus measures.

Theslower-than-expected pace of Thailand’s economy in the third quarter isattributable to weak exports and agriculture but was supported by consumptionand the continued recovery of the tourism industry.

The NESDC expectedthe economy to grow 2.5% this year, the lower end of a previous forecast rangeof 2.5% to 3.0%.

It predictedGDP growth of between 2.7% and 3.7% in 2024.

The agencypredicted a 2% contraction in exports for this year, compared to a 1.8% fall seenearlier, and shipments rising 3.8% in 2024./.

VNA
#Thailand #GDP #third quarter #growth #economy #Vietnam Plus #Vietnam News Agency Thailand
Follow VietnamPlus

Related News

Thai people devoted to mobile: study

Thai people devoted to mobile: study

Thais continue to embrace mobile devices to manage the cost of living and increase revenue, while some are optimistic about generative artificial intelligence (AI), according to a Telenor Asia study.
Bangkok comes fourth among most search tourist cities in 2023

Bangkok comes fourth among most search tourist cities in 2023

According to a survey of the top 10 most searched tourist destinations worldwide for this year (Top 10 Most Searched Destinations Of 2023) which has recently published by eDreams Odigeo, a major travel company, Bangkok, the capital city of Thailand, is in the 4th position after London, Paris, and New York.

See more

Cambodian PM Hun Manet (Photo: AFP)

Cambodian PM urges police to crack down on all forms of crimes

Speaking at a ceremony marking the 80th founding anniversary of the National Police held in southern Kandal province, Hun Manet praised the countless achievements of the police forces, saying that police officers are the good guardians of the nation and people.

Indonesian President Prabowo Subianto (R) and Australian Prime Minister Anthony Albanese at a joint press conference in Jakarta (Photo: AFP)

Indonesia, Australia strengthen defence collaboration

Indonesia is committed to finalising the ratification process of the defence cooperation agreement that was agreed upon last year, and continuing discussions on ways to improve and enhance collaboration in this area, said Indonesian President Prabowo Subianto.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN, speaks at the dialogue. (Photo: VNA)

Vietnam reaffirms continued contributions to UNGA President’s Office

Ambassador Dang Hoang Giang called on the UNGA President candidate to promote the issues of Vietnam’s concern during her tenure, including the upholding of and respect for international law and the UN Charter, and ensuring a transparent UN reform process with the full participation of all member states.

Prime Minister Paetongtarn Shinawatra (Photo: nationthailand.com)

Thailand outlines strategy for trade talks with US

Deputy Prime Minister and Minister of Finance Pichai Chunhavajira detailed the strategy, which includes restructuring the agricultural processing sector to address domestic supply shortages and identify areas where US imports can complement Thailand's production chains.

Prime Minister Paetongtarn Shinawatra meets with fruit traders at Government House. (Photo: Thai Government House)

Thai PM announces comprehensive support plan for fruit farmers

The initiative involves direct procurement from farmers through four key channels, namely purchase with intent to distribute domestically, corporate social responsibility initiatives, purchase for consumption in organisations, and procurement by government agencies like the Department of Corrections.

Medicines for malaria treatment (Photo: Antara)

Indonesia builds AI model for malaria diagnosis

The National Research and Innovation Agency of Indonesia (BRIN) is developing an artificial intelligence (AI) tool to support malaria diagnosis, toward warding off the disease by 2030.