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Thai Q4 GDP +1.8% q/q, stronger rebound than expected -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: FILEPHOTO: New Year Eve celebrations in a shopping mall during the coronavirus (COVID-19), outbreak in Bangkok, Thailand on December 31, 2020. REUTERS/Soe Zeya Ton

BANGKOK (Reuters – Thailand’s economy grew by 3% in the fourth quarter of 2021 according to official data. This was due to an increase in exports and improvement of domestic activity following the lifting of coronavirus controls and reopening of tourism.

According to data from National Economic and Social Development Council, Southeast Asia’s second largest economy grew 1.8% in December from the prior three months. The increase was seasonally adjusted, according to data. These numbers were unable exceed a 1.4% forecast in a Reuters Poll, and after a revision seasonally adjusted 0.9% contraction for the third quarter.

The gross domestic product (GDP), up 1.9% from a year before, was higher than the 0.7% increase forecast and against an revised 0.2% contraction for the prior three months.

Data showed that the economy increased 1.6% in 2021.

In 2022, it maintained its GDP outlook of 3.5%-4.5%.

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