The economy grew steadily in December on private consumption and tourism with arrivals rising 7.7% over the same period in 2017, according to the Bank of Thailand.
Don Nakornthab, senior director of BoT's economic and policy department, said on Thursday that private sector consumption expanded in all spending categories, as did manufacturing production and private investment.
He attributed private consumption to the increasing farm income, especially rice growers. This lifted manufacturing production accordingly, particularly the production of automobiles and petroleum products.
Private investment expanded in areas of machinery, vehicles and construction materials.
The growing number of arrivals was generated mainly by tourists from China and India, but also from Japan, Malaysia, Russia and South Korea. Chinese arrivals were up for the first time in five months, following the floundering of a Phuket tour boat in a storm and tragic loss of lives in early July.
Mr Don attributed the rise in Chinese arrivals to the opening of new direct flight routes to Thailand and the fee exemption for visas on arrival, which took effect on Nov 15.
Meanwhile, the value of exports shrank by 1.6% year-on-year, or 2.0% if gold was excluded, due to high bases in the corresponding period of 2017, lower demand arising from the trade war between China and the United States, and a cyclical decline in electronic products.
However, exports rose in products related to the price of crude oil, and vehicle tyres which the US ordered from Thailand instead of China.
The value of imports fell 6.7% due to a decline in gold imports. If gold was excluded, imports increased by 2.5%.
Government investment declined slightly, Mr Don said.