Economy of Thailand increased by 4.8% in the first quarter

In the first quarter of this year, GDP of Thailand rose 4.8% year-on-year at the maximum rate over the past 5 years after an increase of 4% in the fourth quarter of 2017, official data showed. The growth of the economy was promoted by an increase in domestic consumption and the restoration of production in the agricultural sector. Analysts did not expect changes in GDP growth rates. In the first quarter, consumer spending increased by 3.6% after rising by 3.4% quarter-on-quarter. The increase in government spending was 1.9% compared to a 0.2% rise in the previous quarter. Agricultural production increased by 6.5% after a decline of 1.3% quarter-on-quarter. Exports of goods and services increased by 6%. The pace slowed down compared with the rise of 7.4% in the fourth quarter of 2017.

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