Thailand’s economy has recovered strongly in the first quarter of 2018 supported by healthy growths in the export and tourism sector.
Exports in the first three months have jumped up 11.3 percent year on year, representing a seven-year high and it remains a driving force of the economy this year, said Pornpen Sodsrichai, director of macro economy department of Bank of Thailand.
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The merchandise exports reached 22.363 billion U.S. dollars for March 2018, said Pornpen, adding that despite a high 2017 base, the value of March exports was driven by steady economic growth seen in Thailand’s trade partners.
According to a Press Release on the Economic and Monetary Conditions for March and the first quarter of 2018
Overall economic activity in the first quarter of 2018 continued to expand from the previous quarter, driven mainly by the solid growth momentum of merchandise exports and tourism sector. Private consumption continued to improve from spending in all categories, consistent with the expansion of manufacturing production in both domestic and export-related.
