At a supermarket in Bangkok, Thailand. (Photo: AFP/VNA) The Thai economy slowed in March as domestic demand and tourism softened after expanding well in the preceding periods, and partly because the benefits from the Easy E-Receipt campaign dissipated, the central bank said.
“Despite this slowdown, the economy showed signs of improvement in the first quarter compared to the previous one,” it added, as cited by the daily newspaper. “But overall growth was likely to remain low on a year-on-year basis.”
The country recorded a current account surplus of 1.1 billion USD in March, down from 2 billion USD in the previous month, it said. Volatility in the THB has decreased, it added, but the currency could weaken further in the second quarter due to external factors and in line with regional peers.
March exports fell 10.2% year-on-year, while imports in the month were up 5.2% from the same period last year, it said.
Thailand expanded 1.9% last year, slower than expected and less than 2.5% growth in 2022, lagging other larger economies in the region./.
VNA
