Bangkok, May 31 – The Bank of Thailand reveals that the Thai economy in April 2023 is in a recovery direction. from travel and private consumption indicators increased. Headline inflation is down. The baht appreciated
Dr. Sakkaphob Panyanukul Senior Director Macroeconomic Department The Bank of Thailand (BOT) announced the economic and financial conditions in April 2023, with the Thai economy in April 2023 still in a recovery direction. from activities in the service sector that continued to expand especially in the tourism sector This is in line with the increasing number of Thai and foreign tourists. Most of them come from tourists in Asia. especially China and Malaysia and encourage private consumption indicators to increase This was mainly due to the continuous increase in spending in the service sector in hotels and restaurants.
While the value of merchandise exports excluding gold declined. following the slowdown in demand from trading partner countries Especially 3 types of exports, including hard disk drives to the United States. after the end of the delivery cycle of the entrepreneur sugar exports to indonesia and air conditioners to the US and Europe. especially durian to China
This is in line with industrial production and private investment indicators. decreased from the previous month Meanwhile, government expenditure contracted slightly as federal government expenditures accelerated in the previous period. and investment expenditures of state-owned enterprises as a result of the high base effect in the previous year.
for economic stability Headline inflation declined due to the high base effect in the fresh food category. and core inflation, while energy inflation increased in line with global crude oil prices. The overall labor market recovered in line with economic conditions. As for the current account, there was a significant deficit due to a decrease in trade surplus. while the exchange rate The baht appreciated against the US dollar on average. As the market lowered its expectations of a Federal Reserve policy rate hike. Including the market has a positive view on the recovery of the Thai economy.-Thai News Agency
Source: Thai News Agency