|
|
| • EXCH RATES |
|
Baht/$ 33.30/33
Bid/Ask
|
GOLD |
15,000
- 200
|
|
WICHIT CHANTANUSORNSIRI
The Thai economy grew an estimated 5.9% in the first half of the year, according to the Fiscal Policy Office.
The economy slowed somewhat to 5.8% growth year-on-year in the second quarter from 6% in the first quarter, according to Pannee Stawarodom, the FPO director-general.
The National Economic and Social Development Board will announce official second quarter growth figures on Aug 25.
But the FPO, a unit of the Finance Ministry, said it was now projecting second half growth to slow to 5% to 5.5%. This would put growth for the full year at a range of 5% to 6%, in line with government targets and higher than the 4.8% growth reported for 2007.
The estimates assume crude oil prices remain roughly stable at $130 to $140 per barrel.
Exports were the key driver for the economy in the first half. For the first five months of the year, exports rose 22% in value terms and 10% in volume from the same period last year.
When combined with preliminary figures for June, first-half exports rose just under 20% in value terms and 9.5% in volume from the same period last year.
Domestic consumption, as measured by value-added taxes, rose 10.4% in the first half from the same period last year, thanks in part to a 32.5% increase in farm income as a result of high farm commodities prices. Capital goods imports, a proxy for investment, increased 15% year-on-year, compared with a 1% gain for the first half of 2007.
Prev
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Next
