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InfoQuest

Thai Q1 GDP falls 1.8 pct

May 19, 2020


Abstract : Thailand's GDP grew by 1.5 percent in the fourth quarter of 2019, but contracted by 1.8 percent in the first quarter this year, mainly due to a decline in exports of goods and services, and a slowdown in government and private investment and spending

InfoQuest (May 18, 2020) -- Thailand's GDP grew by 1.5 percent in the fourth quarter of 2019, but contracted by 1.8 percent in the first quarter this year, mainly due to a decline in exports of goods and services, and a slowdown in government and private investment and spending, according to Mr. Tosaporn Sirisamphan, secretary-general of the National Economic and Social Development Board (NESDB).

Thailand's economy is expected to shrink by 5-6 percent in 2020 due to the shrinking global economy and trade volume, the sharp decline in the number and income of foreign tourists, the COVID-19 outbreak and drought.

Source: InfoQuest, by Kasamarporn Kittisamphan / Rachada / Wilawan, translated by Xinhua Silk Road

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Keyword: Thailand GDP

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