Thai Economy Grows 3.3 Per Cent In Q1 2017

BANGKOK, May 16 (Bernama) -- Thailand's economy expanded by 3.3 per cent in the first quarter (Q1) of this year, up from 3.0 per cent in the fourth quarter of last year due to acceleration in private consumption, exports and expansion of total investment. According to the Office of the National Economic and Social Development Board, the agriculture sector grew robustly by 7.7 per cent from 3.0 per cent in previous quarter as a result of the strong increase in major crop production especially paddy, maize and oil palm. In addition, the price of agricultural products had also increased, it said on Monday. Non-agricultural sector expanded by 2.9 per cent in the first quarter, down 3.2 per cent registered in the previous quarter, contributed mainly by the slowdown in the manufacturing, construction, financial intermediation and several other sectors. "However, the trading, hotels, and restaurants, transport, and communication sectors showed higher growth in line with improvements in private consumption and tourism sector," it said. The board expected Thailand's economic growth this year to be between 3.3 per cent and 3.8 per cent, driven by the recovery in export, growth in export and tourism sector, increase in global commodity prices and improvement in the domestic car market. -- BERNAMA