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Thai economy boosted by investments, tourism gains in Q3

by ChemOrbis Editorial Team - content@chemorbis.com
  • 16/11/2015 (12:05)
According to media reports, Thailand’s economy posted its strongest quarterly growth this year, growing by 1% in the third quarter compared with the previous quarter. On a yearly basis, meanwhile, the country’s gross domestic product (GDP) rose 2.9%, beating economists’ initial estimates which called for a growth rate of 2.5% in a survey conducted by Bloomberg.

The acceleration in the economy was driven by rising government investment spending and higher tourism revenues, which offset weak local demand and softening exports. The Thai government is reportedly planning to spend THB359 billion ($10 billion) during the October-November period of this year. In the third quarter, tourist arrivals reached 7.3 million, up 24% from a year earlier.
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