Thai Economy Continues to Improve

The Thai economy has continued to improve driven by public spending and the relaxation of lockdown measures, both in Thailand and abroad.

According to the release on Thailand’s economic and monetary conditions for July 2020, issued by the Bank of Thailand on 31 August 2020, private consumption indicators, merchandise exports value, and manufacturing production exhibited lighter contractions in July.

However, investment conditions remained vulnerable reflected by private investment indicators contracting deeper. Meanwhile, the tourism sector persistently experienced severe contraction due to travel restrictions on foreign tourist arrivals.

On the economic stability front, headline inflation recorded a softer negative, mainly from higher core inflation after some of the government’s relief measures expired.

Labor market somewhat improved consistent with the economic activities. Nonetheless, overall employment condition remained weak. The current account turned surplus mainly contributed by gold exports. Meanwhile, the capital and financial accounts were nearly balanced.

 

Source: The Government Public Relations Department