Finance Ministry: Easing Q1/13 Chinese GDP poses no impact on Thai economy

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BANGKOK, 18 April 2013 – The Finance Ministry affirmed that the economic growth slowdown in China during the first 3 months of this year will not have any impact on Thai economy. 

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said on Wednesday that China’s GDP of 7.7% in Q1/13, which is equivalent to a 2% contraction in the growth rate, when compared with the record in Q4/12, is not worrisome for Thailand.

During the last 3 months of 2012, Chinese economy expanded 7.9 percent.

Mr. Kittiratt stated that the growth contraction was the work of the Chinese government, aimed at keeping its economy from over-heating.

He added that Thailand, as China’s trade partner, should not be disturbed by the situation in Asia’s largest economy and worries about any effect on local economy.