Thai GDP Q1 rises 3.3 per cent: NESDB

BANGKOK, May 15 (TNA) - Thai gross domestic product (GDP) in the first quarter increased 3.3 per cent year-on-year thanks to the government investment and record high exports, disclosed the National Economic and Social Development Board (NESDB). The 3.3 per cent GDP growth in the first three months of this year accelerated from the previous quarter of last year, said Porametee Vimolsiri, secretary-general of the Office of the National Economic and Social Development Board. Household spending expanded faster to 3.2 per cent while the government investment grew continuously at 9.7 per cent. However, private investment contracted by 1.1 per cent. A rebound in global trade and economic recovery of trade partners supported Thai exports in the first quarter grew 6.6 per cent, the highest rate in more than four years. The NESDB keeps 2017 economic growth at 3.5 per cent but narrowing the range from 3-4 per cent to 3.3-3.8 per cent. Thai exports for the whole year was projected to grow at 3.6 per cent, up from 2.9 per cent, earlier expected. However, the secretary-general said the global economic growth and fund flows are among risk factors to be closely monitored. (TNA)