The Thai economy improved in January 2023, with increasing private consumption indicators and slightly better value of merchandise exports. Activities in the service sector also improved due to domestic tourists, despite a slight slowdown in foreign tourist arrivals. Public spending expanded from the same period last year, and headline inflation declined due to lower inflation rates in energy and fresh food categories. Labor market gradually improved, and the current account registered a deficit mainly due to a deterioration in the trade balance. The baht against the US dollar appreciated due to the faster-than-anticipated reopening of China’s tourism sector.
You May Also Like
Exports in June contracted slightly as drought slowed fruit exports to China. Looking ahead, exports in July are expecte…
Thai exports in June 2024 declined by -0.3%YOY, with a notable decrease in fruit exports to China due to drought conditions. Agro-industrial and agricultural products saw contractions, while key partners, such as Hong Kong and Japan, also experienced declines. SCB EIC projects a 2.6% expansion in Thai exports for 2024.
