Thailand’s economy forecast to grow 4 percent in Q2
Thailand’s economy is expected to expand 4 percent in the second quarter of 2018 driven by personal consumption, public spending and increasing exports, said the Fiscal Policy Office (FPO) under the Ministry of Finance.
The Thai Rice Exporters Association has revised upwardly its 2018 rice export target to 10 million tonnes. (Photo: VNA)
Bangkok (VNA) – Thailand’s economy is expected to expand 4 percent in the secondquarter of 2018 driven by personal consumption, public spending and increasingexports, said the Fiscal Policy Office (FPO) under the Ministry of Finance.
TheFPO unveiled that Thailand’s exports have grown for 14 consecutive months inApril and forecast to rise by 10 percent in the second quarter this year.
Theflow of foreign tourists to Thailand increased 9.4 percent to 3.09 millionwhile the public debt index remained stable, standing at 41.2 percent in April,it said.
Accordingto the FPO, the consumer confidence index in Thailand reached 67.8 points, thehighest level since March 2015.
Ina related move, the Thai Rice Exporters Association (TREA) has revised upwardlyits 2018 rice export target to 10 million tonnes from the previous forecast of9.5 million tonnes after the export of the grain in the first four months ofthis year performed better than expected.
From January through April, Thailand exported3.31 million tonnes of rice, up 38 percent from a year earlier and outpacingother big rice exporters like India, which shipped 3.21 million tonnes;Vietnam, 1.61 million tonnes; and Pakistan, 1.28 million tonnes.
"During the first quarter of this year,Thai rice exports rose more than expected as demand in several importingcountries increased. And we expect demand to support Thai exports for the wholeof this year," said TREA President Charoen Laothamatas.-VNA
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Thailand’s economy posted the strongest growth in five years in 2017 and is expected to maintain the outlook this year, driven robust exports and tourism.
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The Trade Policy and Strategy Office (TPSO) of Thailand revealed that Thai exports rose by 12.3 percent in April due to a higher demand for farm produce.
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Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
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Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
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The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
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The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
The Thai Rice Exporters Association has revised upwardly its 2018 rice export target to 10 million tonnes. (Photo: VNA) 
