Thai economy signals recovery, says Chamber of Commerce


BANGKOK, 19 May 2015 – The Chamber of Commerce and the Board of Trade of Thailand has revealed that the country’s economy has shown signs of recovery and has retained this year’s growth rate forecast at 3.5 percent.

The Thailand Chamber of Commerce (TCC) Chairman Isara Vongkusolkij has revealed the chamber’s overview of the Thai economy during the first quarter of 2015. He said Thailand is maintaining its position in sequence with last year’s figures.

According to the TCC Chairman, exports in all categories have decreased, except for exports to the CLMV countries. These increased by 10 percent along with an increase to the United States market. The nation’s unemployment rate was as low as 1 percent after the Bank of Thailand was successful in controlling a negative inflation value.

He said it is unlikely the Thai economy will face deflation at this point, as the economy has shown potential for recovery. In addition, tourism is expanding, with 15 percent more tourists from all regions, resulting in an income increase of 18 percent.

The investment sector has also exhibited positive signals, due to a larger investment budget from the government and the growth of real estate investment.

Policies enacted by the government and the government’s 1.4 trillion baht budget have helped stabilize the nation’s economy, while the TCC Chairman added that the recovery of the global economy will contribute to more investment in Thailand. The private sector is also positive that the 2015 GDP rate will remain at 3.5 percent.