Thailand’s Q2 GDP sees fastest growth in more than 4 years

According to media sources, Thailand’s GDP (gross domestic product) grew by 3.7% in the second quarter of 2017 when compared to the same period of 2016, exceeding estimates of 3.2%.

The rate, which followed a 3.3% increase in Q1 this year, pointed to the fastest growth since the first quarter of 2013, the National Economic and Social Development Board revealed. The recent expansion in GDP was attributed to the increases in farming output as well as tourism.

In an industrial breakdown, the agriculture sector posted an increase of 15.8% in Q2 from a year ago and 5.7% from the first quarter. However, the manufacturing growth slowed to 1% from 1.3%, while the construction sector contracted by 6.2%.

On another note, the agency reportedly revised its GDP growth forecast to 3.5-4% from 3.3- 3.8% for 2017.