Bangkok – The central bank has reported that the export and tourism industries grew at a significant rate in the month of August.
Don Nakornthab, senior director of the Macroeconomic and Monetary Policy Department at the Bank of Thailand, said yesterday that the value of Thai exports in August increased 15.8% over the previous month, thanks to higher demand for Thai products from overseas markets. In addition, he said domestic consumption before the enforcement of the new excise tax law was reportedly higher as well.
The director went on to disclose that the tourism industry expanded 8.7% in August, with higher numbers of visitors from China, South Korea, Japan, and ASEAN countries.
He said the inflation rate stood at 0.32, a 0.17% increase month-on-month. The slight increase was the result of higher retail gasoline prices.
Don said he expected the Thai stock market to continue to perform well in the long run because the country’s economy continues to show clear signs of recovery.