|
Economy continues
to shrink in January: BoT
Thailand’s economy in January continued to shrink with all economic
indicators showing a continuing contraction, according to the Bank of
Thailand (BoT).
BoT Local Economy Division senior director, Ummara Sripayak, revealed that
incomes earned by farmers increased slowly at 8.6 percent compared with 20.3
percent in December 2008 because the output of natural rubber and sugarcane
had dropped.
Prices of agricultural commodities continued to drop due to the global
economic recession.
She said the industrial output index, particularly in the electronics,
electrical appliance, and auto sectors, dropped 21.3 percent, resulting in
the production capacity efficiency staying at only 57.1 percent.
Private consumption and investment contracted 4.5 and 7.9 percent
respectively.
Imports plunged by 36.5 percent with a total value of US$8.69 billion and
exports shrank in the third consecutive month by 25.3 percent with a value
of $10.38 billion, resulting in a trade surplus of $1.69 billion.
The general inflation rate contracted 0.4 percent, the first time since
October 1999, in tandem with falling oil prices.
Ummara said the baht weakened to move at 36.06-36.08 to the dollar in the
same direction with other currencies in the region while the dollar and the
Japanese yen strengthened. (TNA)
|
