Thailand Economy Expands 2% QoQ in Q1

Thailand's economy advanced 2 percent quarter-on-quarter in the March quarter of 2018, following a 0.5 percent growth in the previous period and easily beating market consensus of a 1.05 percent expansion. It is the strongest quarterly growth since the fourth quarter 2012, mainly supported by faster rises in private consumption and fixed investment.
NESDB l Rida | rida@tradingeconomics.com 5/21/2018 4:21:27 AM
On the expenditure side, private consumption increased at a stronger 1.3 percent (from 0.8 percent in the December quarter. Also, gross fixed capital formation expanded by 2.8 percent, faster than a 2.3 percent rise in the prior quarter. On the other hand, goverment spending contracted 0.1 percent, after a 4.7 percent growth in Q4. Meantime, net external demand contributed negatively to growth, as exports of goods and services went up 1 percent (from 1.2 percent in the preceding quarter), while imports rose by 3 percent, the same as in the December quarter.

On the production side, manufacturing sector grew by 0.3 percent, faster than a 0.1 percent rise in the preceding quarter. At the same time, agriculture sector expanded 11.6 percent, rebounding sharply from a 7 percent decline in the prior three month-period. Meanwhile, wholesale and retail trade; repair of motor grew by 1.5 percent (from 2.1 percent). On the other hand, financial intermediation shrank 0.4 percent, following a 1.2 percent rise in the prior quarter.

Year-on-year, the country's GDP grew by 4.8 percent from a year earlier, above estimates of a 4 percent expansion and after a 4 percent growth in the December quarter. It is the strongest pace of expansion since the March quarter 2013.

Thailand Economy Expands 2% QoQ in Q1