Thai economy keeps growing

BANGKOK, August 1 (TNA) - The Bank of Thailand (BOT) reports that the country's gross domestic product (GDP) in the second quarter of this year kept growing by about 4.8 per cent year-on-year, on top of same growth rate in the first quarter. Director of the BOT's Economic Analysis Office Pornpen Sodsrichai told journalists of the update on July 31, attributing the growing Thai GDP mainly to the expanding exports and domestic tourism. Besides, the industrial production and domestic private consumption have kept expanding. Pornpen acknowledged that Thai exports grew 12.3 per cent year-on-year during the second quarter of this year, worth 63.01 billion US dollars, resulting in the country's trade surplus of about 5.80 billion US dollars and current account surplus of about 6.51 billion US dollars. According to the BOT director, risk factors against Thailand's GDP growth remain in the second half of this year, especially impacts from the ongoing trade war between the United States and major trading partners, namely China and European nations, and from last month's tragedy in which dozens of Chinese tourists were killed and injured in a capsized ferry, caused by a high monsoon offshore wave, in resort Phuket Province in the Thai South. The BOT director said that the Thai central bank has, however, kept monitoring updates on key economic indicators and will report them to the next meeting of its Monetary Policy Committee (MPC) on August 8, when there will also be a consideration on the country's suitable key interest rate. (TNA)