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Thailand’s GDP growth accelerates in Q1

by ChemOrbis Editorial Team -
  • 16/05/2017 (12:01)
According to the data released by Thailand’s National Economic and Social Development Board, Thailand’s economic growth accelerated in Q1 of 2017 on the back of domestic demand and shipments. Data shows that gross domestic product (GDP) grew by 3.3% on a yearly basis, which was faster than the yearly growth of 3% in the previous quarter and the estimates of a rise of 3%.

On a quarterly basis, GDP was up by 1.3% in Q1, which doubled the growth rate of 0.5% in the previous quarter. The quarter-on-quarter growth rate also beat the estimates of a rise of 1%.

The government estimates the country’s economy to grow by 3.3-3.8% in 2017, more than its initial projection of 3-4% in February. Economists also think the economy will grow further in the coming quarters on the back of external demand as well as positive fiscal and monetary policies. However, they also estimate that the economic growth will slow in 2018 to 3% due to the revival of domestic political concerns.
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