BANGKOK, 1 October 2013 – The Bank of Thailand (BoT) has disclosed that Thai export in August was valued at 19.9 billion US dollars, a 2.5 percent increase month-on-month.
According to Methee Supapong, senior director of the Monetary Policy Division at the Bank of Thailand, the Thai economy in the month of August was stable as domestic consumption continued to expand, while the valued-added taxes also increased. However, the director said investment from the private sector shrank 4 percent in line with the drop in machinery, electronic equipment, and auto-part imports.
He went on to reveal that the value of exports in August totaled 19.9 billion US dollars, a 2.5 percent rise compared to the month before, adding that the export in July took a drop of 1.3 percent.
The BoT is also set to review its economic growth target as the director expects this year’s GDP growth to be lower than the 4.2 percent previously predicted. The revised figure will be announced on October 25th, said the senior director.