Thailand GDP increases 4.6 percent

BANGKOK, Aug 21 (TNA) -- Thailand’s gross domestic product (GDP) in the second quarter of 2018 increased favorably by 4.6 percent, compared to a 4.9 percent rise in the first quarter, the National Economic and Social Development Board (NESDB) announces on Monday. The second quarter GDP grew slower than 4.9 percent seen the first quarter but the NESDB maintained its forecast for 2018 GDP growth at 4.5 percent, said Thosaporn Sirisumphand, Secretary General of the government’s economic planning agency. The slower growth was due largely to lower tourist arrivals during that period, he said. It was also reflected in the non-agricultural sector’s that expanded at slower pace of 4.1 percent. For the first half of the year, the economy expanded 4.8 percent, said Mr Thosaporn. The NESDB in the meantime raised its 2018 export growth forecast from 8.9 to 10.0 percent which seen as driving force for Thailand’s economy, he aded. Among the risks facing Thailand, Mr Thosapron pointed to the impacts of flooding on agricultural productivity as well as arising protectionism practices. (TNA)