THAILAND’S economy slowed in December 2024 on a monthly basis due to declines in exports and manufacturing, despite a slight growth in private consumption and tourism revenue, the country’s central bank said on Friday.
The value of merchandise exports, the Southeast Asian country’s key driver of economic growth, expanded 8.4 per cent year-on-year last month, slowing from a 9.1 per cent rise in November, according to the Bank of Thailand (BOT).
Private consumption saw a slight uptick across most categories, except for non-durable goods, which slowed following previous gains supported by the government’s cash handout program, the central bank said in a statement.
Private investment remained steady, while tourism revenue saw an increase, driven by a higher proportion of longhaul tourists, said BOT Assistant Governor Chayawadee ChaiAnant.
Public spending continued to grow in both current and capital expenditures, driven by investment by state enterprises, particularly in infrastructure projects, Chayawadee told a news conference.
Xinhua
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