Commerce Ministry reviews economic indicators

BANGKOK, March 5 (TNA) -- The Commerce Ministry and four other leading government agencies will come up with a new set of economic indicators which will include the service sector and local and overseas investment to better show the condition of the Thai economy. Deputy Commerce Minister Suvit Maesincee said on March 4 that his ministry through its Trade Policy and Strategy Office were working out new economic indicators with the Office of the National Economic and Social Development Board, the Bank of Thailand, the Board of Investment, and the Stock Exchange of Thailand. The indicators would result in Thailand's scorecard that would cover all dimensions including export, service, inward foreign direct investment and outward foreign direct investment. International economic affairs and trade consisted of more dimensions and export figures alone could not give an accurate picture of the Thai economy and therefore a new set of indicators was necessary, Mr Suvit said. A memorandum of understanding would be signed for the five parties to exchange information regularly and systematically to update the indicators and the Commerce Ministry would announce the situations of the economy, trade and international investment quarterly, starting in April, he said. (TNA)