A supermarket in Thailand (Source: wsj.com)

Hanoi (VNA) - Thailand’s economy in April-June grew at a slower pace than in the previous quarter, but the National Economic and Social Development Board (NESDB) kept its yearly GDP growth forecast of the country at 4.2-4.7 percent.

According to NESDB, Thailand’s GDP in the second quarter increased 1 percent from the previous three months on a seasonally adjusted basis.

NESDB also lifted its forecast of export growth of Thailand in 2018 to 10 percent. The agency forecasted that export activity will flourish thanks to improved economic development of the country’s trade partners.  

In the second quarter, Southeast Asia’s second-largest economy enjoyed export expansion of 12.3 percent compared to the same period last year.

However, its tourism growth decreased to 9.1 percent from 15.4 percent in the first quarter.

Statistics from NESDB also showed that the private consumption expenditure of Thailand increased by 4.5 percent in the second quarter of 2018 compared to the same period last year, while private and public investment rose by 3.2 percent and 4.9 percent, respectively.

The Bank of Thailand (BoT) kept interest rates at 1.5 percent, close to the record low level of April 2015. The bank’s upcoming policy meeting will take place on September 19, but analysts said the BoT will not change its policy in  2018.-VNA