The Thai Economy in the fourth quarter of 2021 expanded by 1.9 percent year-on-year, recovering from a contraction of 0.2 percent in the previous quarter, announced the Office of the National Economic and Social Development Council (NESDC).
In this quarter, Thai tourism receipts were at 0.084 million Baht, dropping by 47.3 percent in the same period of last year, but improving from a 91.5-percent decrease in the previous quarter.
This was a result of subsided domestic outbreak situation, the relaxation of control measures, the progress on vaccine distribution, and domestic traveling stimulus scheme. The number of foreign tourists stood at 342,024 persons, significantly increasing from the low base last year, mainly owing to the implementation of the Test and Go program for international visitors and the easing of international travel restrictions of tourist origin countries.
On economic stability, the unemployment rate stood at 1.64 percent, which was lower than a 2.25-percent in the preceding quarter and a 1.86-percent in the fourth quarter of 2020. Besides, the headline and core inflations were at 2.4 percent and 0.3 percent, respectively.
In 2021, the Thai economy expanded by 1.6 percent, recovering from a 6.2-percent contraction in 2020.
In 2021, GDP value at current prices was 16.2 trillion baht (505.6 billion US dollars). GDP per capita was 232,176.0 baht per person per annum (7,255.5 US dollars per person per annum).
For the economic stability, the headline inflation was at 1.2 percent and the current account registered a deficit of 2.2 percent of GDP.
The Thai economy in 2022 is projected to expand in the range of 3.5 – 4.5 percent, mainly supported by the regaining in domestic demand; the recovery of domestic tourism; the continual expansion of export of goods; and the support from public investment. (TNA)