Thailand's economy shows growth again
In February, Thailand's economy, the second largest among Southeast Asian countries, improved after a short-lived decline. The reason for this was the lifting of restrictions associated with the pandemic.
While the Russian-Ukrainian crisis is likely to drive up inflation and cause global financial instability, Thailand's economy will continue to perform well. It is expected to rise more than 3.4% in the fourth quarter, as previously estimated, despite a brief slowdown in economic activity in January.
At the same time, in the first month of 2020, private consumption decreased by 0.4% compared to the previous month, while private investment fell by 0.7%. Exports, a key driver of economic growth, increased by 7.9% in January. Last year, during the same period, growth was much more active. Imports increased by 18.4% year on year, resulting in a trade surplus of $0.6 billion.
Thailand also posted a $2.2 billion current account deficit in January, after a $1.4 billion deficit in December.