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Image Source: Bangkok Shipping

Image Source: Bangkok Shipping

Thailand Sees Strongest GDP Growth In Years

Thailand: With a strong performance from the manufacturing sector, Thailand’s real gross domestic product (GDP) expanded 4.3 percent year-on-year in the third quarter of 2017. The manufacturing industry contributed 1.22 percentage points, which offset weakness in the country’s construction industry. Higher expenditure figures boosted real GDP due to an increase in inventories.

Net exports also turned positive for the first time in four quarters as export growth grew 7.4 percent in 2017’s third quarter compared to the same period last year.

According to BMI Research, Thailand’s business environment continues to be the long-term driver of growth to the economy, thanks in part to the government’s introduction of sweeping reforms to the country’s institutions.

The report remains optimistic that the new constitution would ensure increased accountability from institutions, allowing for policy continuity despite impending changes in national leadership.

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