1. Overview
The Thai economy in the first quarter of 2001 measured by Gross Domestic Product (GDP) increased
by 1.8 percent lower than 3.2 percent in the previous quarter.
The rate of growth is considered the lowest since the second quarter of 1999, signaling the
slowdown of Thai economy in this quarter once again. It was mainly due to the export decreased by 3.5
percent, the public investment decreased by 24.4 percent and the only 3.1 percent increase in the household
expenditure in this quarter. However, there were still some economic stimulus which are the government
expenditure that increased 0.9 percent and the 10.7 percent jumped in the private investment.
Gross Domestic Product in this quarter valued at Bath 1,270 billion and after deduct by net
factor income payment from the rest of the world, the value of Gross National Product left at Bath 1,267
billion with an expansion at 5.2 percent. In the other word, it increased by 2.6 percent in real term.
Gross Domestic Product by seasonally adjusted in the first quarter decline from the fourth quarter
of previous year by 0.2 percent. It is the first decline since the third quarter of 1998.
2. Production
The production in this quarter slightly increased by 1.8 percent less than 3.2 percent in the
previous quarter. The causes of slowdown came from both the agricultural and non-agricultural sector.
2.1 Agriculture
The agricultural products continued to grow in every sub sectors therefore the total products
expanded 2.3 percent compared to the same quarter of previous year. The average agricultural product
price other than fisheries continued to increase by 4.8 percent, compared to 0.2 percent in the previous
quarter, while the average price of fishery product increased by 5.6 percent less than 9.3 percent in the
previous quarter.
- Crops: the production of crop expanded at a slow pace of 0.4 percent from the previous year.
The increased items included paddy, rubber, cassava, mung beans, coffee beans, vegetables, pineapple and
fruits. While there were some reduction in maize, soy beans, ground nuts, oil palm and especially a
considerably decrease in sugarcane which dropped by 14.9 percent from the previous year mainly due to
a widespread outbreak of stem borer in the crop year 2000/2001.
- Livestock: Livestock production still increased 8.8 percent. The poultry production expanded
at the highest rate as a result of the high demand from the European market for frozen and processed
chicken to substitute consumption of beef. However, cattle and buffalo were continuously decreased.
- Fisheries: The fisheries products grew 6.7 percent, in line with the expansion export both of
frozen and processed shrimps. The high export price was an incentive of increasing shrimp's cultivation.
The effect of mad cow disease in Europe caused the higher demand from foreign countries for seafoods to
substitute protein consumption from beef.
2.2 Mining and quarrying
Mining and quarrying sector continued to decline 7.0 percent mainly due to the less
production of natural gas which have the proportion of 57.0 percent to this sector. It decreased 9.6
percent because some amounts of natural gas was started to import from Myanmar. Furthermore, there was
a reduction in lignite, marble, granite and limestone products for industrial used. While crude oil
production in this quarter grew up 17.5 percent.
2.3 Manufacturing
The manufacturing sector expanded only 1.3 percent less than 4.0 percent in the same
quarter of previous year. The main factor is the declination in export of capital goods and high technology
goods in accordance with the decline economy of counter part countries. In this situation, the comparative
advantage of the country was increased because of the depreciation of Baht. In this quarter, the
labor-intensive industry increased higher than the others.
2.3.1 Labor intensive industries grew at the highest rate. The major industries were as follows:
- Apparel: The production expanded by 5.1 percent because of an increase of the export.
- Leather and leather products: It increased by 6.4 percent because of the export of leather
product increased by 40.0 percent
- Other industries: This sector increased by 4.7 percent because of the high export of
jewelry and ornaments at the rate of 29.4 percent.
2.3.2 Raw materials intensive industries sluggishly increased from the previous year. The major industries
were as follows:
- Petroleum refineries: The slight expansion was only 0.7 percent less than 10.5 percent
in the previous quarter due to the decrease in domestic demand.
- Non-metallic mineral products: The production of this sector decreased by 2.1 percent
because of the decline on cement production related to irrecoverable of construction and the decline in
the export.
2.3.3 Capital goods industries Most of these products decreased in this quarter especially high
technology and export oriented industries. However, the commodities for domestic market was still continuously
increased. Capital Goods industries were categorized in the difference of level of growth as follows:
The low growth industries were the manufactures of
- Office machineries: The production decreased by 9.9 percent because of the decline of
production of computers and equipment due to the decline of export demand.
- Radio, television and communication equipments and apparatus: These industries declined
by 9.5 percent because of the decrease of television production due to the decreased export demand by 8.5
percent.
The high growth industries were the manufactures of
- Machinery and equipment: These industries grew at the rate of 6.8 percent because of
the high export demand of air conditioners by 34.5 percent.
- Motor vehicles: This sector increased by 28.3 percent, especially the production of
private cars. This was a result of high export and domestic demand. However, the production of commercial
car was slightly increased.
2.4 Electricity, gas and water supply
This sector expanded by 5.4 percent due to the production of electricity slowly increased only
6.8 percent. A sluggish increased in the electricity was mainly due to the decline in the consumption
of electricity by all user types, especially the manufacturing sector. However, an increase in the
residential consumers resulted from the expansion of service area of the Provincial Electricity Authority.
A sluggish increased by 4.1 percent in the water supply sector but the gas sector dropped by 8.8 percent
in line with the production of natural gas.
2.5 Construction
This sector dropped by 5.5 percent. This contraction mainly came from the construction undertaken
by the government sector, which had a higher share, 64.4 percent, in the total value of construction.
In this period, the government construction decreased by 10.9 percent but the private construction
continually increased at the rate of 8.4 percent owing to an increase in the construction of residential
and commercial buildings.
2.6 Wholesale and Retail Trade
This sector expanded by 2.5 percent in accordance with the increase in both the domestic and
import transactions.
2.7 Hotel and Restaurant
This sector slightly increased by 4.6 percent. The restaurant which contributed 68.0 percentage
to this sector, slowly increased 3.1 percent and the hotel services, which had a 32.0 percentage share
in this sector, grew by 8.0 percent in line with the increased in the number of tourists.
2.8 Transportation and Communication
This sector expanded by 3.6 percent lower than the same quarter of previous year. The main
factor came from the telecommunication service organization, especially the Telephone Organization of
Thailand. The transportation by trucks slowed down due to the decline of the production of manufacturing
goods and agriculture products.
2.9 Financial Intermediation
Financial intermediation slightly expanded by 0.4 percent from the same quarter last year.
Although, the commercial banks were still very strict on their lending policy and it caused the loan growth
slowed down, the commercial banks' performance began to make profit, especially increase of interest
income and dividend as well as commercial banks can maintain BIS capital adequacy ratio at the end of
year 2000, therefore the performance excluded bad debt and doubtful debt become better.
3 Domestic Consumption Expenditure
3.1 Private Consumption Expenditure
The value of private consumption expenditure slightly increased 3.1 percent slow down from the
same quarter last year. The major factors were the decline in interest receipts, increase of oil price,
slowdown of the world economy which made people more careful on spending because of lack of confidence
on their income, especially people who mainly received income from interest
The expansion was mainly on the consumption of the following goods and services:
- Agriculture; Continuous expansion at 3.4 percent in accordance with an increase
in the quantity of vegetables and fruits consumption and also the celebration of Chinese New Year.
- Food, beverage and textiles; The expansion of 2.6 percent came from an increase
in the consumption of beverage by 11.1 percent especially both alcoholic and non-alcoholic drinks.
The consumption of meat, products of meat and oils decreased by 1.0 percent and textile declined by
1.7 percent compared with the same quarter of last year.
- Transport equipments; There was an increase by 9.4 percent in this quarter
due to the expansion of motor vehicles and motorcycles sold. This was a result of a launch of
new models in the domestic market.
- Electricity, gas and water supply; There was a continuous expansion at 10.2 percent.
An expansion in consumption of electricity and water increased by 10.9 and 7.7 percent, respectively.
- Transport and communication service; This sector increased only 4.6 percent.
The expansion of transport and communication service was 3.4 and 7.4 percent, respectively due to sales
promotion of telephone and mobile phone business.
- Hotel and restaurant; It still grew continuously at the rate of 4.9 percent
mainly due to the expansion of the tourist expenditure.
3.2 Government Consumption Expenditure
Government Consumption Expenditure at current price was recorded at Baht 135,594 million, with the growth
rate in real term 0.9 percent. This was a result of a slowly increased in compensation of employees and
purchase from enterprises and aboard by 0.2 and 2.5 percent, respectively. The sluggish increase mainly
came from the declining of the number of government officers as a result of early retirement program, and
the utilization of loan in the economic stimulus package (Miyazawa Loan) had sharply declined.
3.3 Gross Fixed Capital Formation (GFCF)
In this quarter, GFCF or investment decreased by 5.0 percent compared with the same period last
year as a result of contraction in public investment by 24.4 percent with a share of 35.5 percent.
However, private investment, its share at 64.5 percent, increased by 10.7 percent.
1) Private ; It expanded by 10.7 percent as a result of an increase by 11.3
percent in investment in machinery with its share of 78.4 percent in the overall private investment.
Similarly, the investment in private construction with its share of 21.6 percent also moved upward by 8.4
percent owing to an increase in the construction of residential and commercial buildings in both inside
and outside municipal areas.
2) Public ; In this quarter, the public investment dropped by 24.4 percent
mainly due to the public construction, which contributed 70.6 percent to the total, dropped by 10.9
percent. Lower investment and sluggish ongoing investment project of the state enterprises were the
main factors for the declination in the public construction. In addition, its investment in machinery
and equipment with a share of 30.4 percent declined by 44.8 percent. However, the public investment would
drop by only 9.6 percent if the investment in airplanes was excluded.
3.4 Change in Inventories
The total value of changes in inventories is Bath 36,129 million, which was higher than previous
quarter. The major contribution to this increase was from the higher stock of manufacturing goods,
especially of motor vehicles and parts. This was a result of expected high demand for motor vehicles.
Moreover, the higher stock of garment and petroleum products were the main factor of the increase in
stock of the manufacturing goods. Nevertheless, the change in inventories of agricultural goods decreased
because the main crops were already harvested in the previous quarter.
3.5 Export of goods and services
The export revenue of goods was Baht 692,012 million with the growth rate of 13.4 percent.
In term of U.S. dollar, it was 16,019 million U.S.dollar which decreased by 1.3 percent. It implied that
the exporter still received benefit from the depreciation of Baht. Nevertheless, in real term, the export
of goods declined 3.5 percent.
The service receipts was Baht 141,356 million with the growth rate of 5.1 percent due to an
increase in the revenue received from foreign tourists and transport services.
3.6 Import of goods and services
The import expenditure of goods was Baht 689,201 million with the growth rate of 28.1 percent.
In term of U.S. dollar, it was 15,953 million U.S.dollar with the growth rate of 11.6 percent lower than
42.7 percent in the previous year. It implied that the importer still took burden from the depreciation
of Baht . In real term, the import of goods declined 6.0 percent.
The service payments were Baht 88,407 million with the growth rate of 16.1 percent as the result of
Thai tourists payment abroad and other service expenditure.
4. Trade and services balance
There was a surplus on the trade balance account by Baht 2,811 million less than Baht 72,180
million surplus at the same quarter of last year because of the decrease of international trade.
Higher price and the depreciation in Baht were the main factors of the declination of international
trade. For the services balance, there was a surplus of Baht 52,949 million less than Baht 58,390
million in the same quarter of last year as the result of the growth rate of Thai tourists payment
abroad higher than the revenue. Finally, the total current account was Baht 55,760 million surplus,
contracted from the Baht 130,570 million surplus in the same quarter last year.
Export and Import of Goods and Services at Current Prices
2000 2001
Q1 Q2 Q3 Q4 Q1
1. Export goods and service
Million of Baht 610,040 607,642 737,296 778,356 692,012
Growth rate 30 20 31.3 28 13.4
Million of U.S. dollar 16,223 15,734 18,011 17,974 16,019
Growth rate 27.8 15 22.5 14.4 -1.3
2. Import goods and service
Million of Baht 537,860 571,705 675,548 728,354 689,201
Growth rate 45.3 33.6 43.4 38.5 28.1
Million of U.S. dollar 14,299 14,800 16,503 16,821 15,953
Growth rate 42.7 28 33.8 23.6 11.6
3.. Trade balance
Million of Baht 72,180 35,937 61,748 50,002 2,811
Million of U.S. dollar 1,924 934 1,508 1,153 66
Ratio per GDP (%) 5.9 3 5.1 3.9 0.2
4. Exchange rate
(Baht / U.S. Dollar) 37.65 38.66 40.99 43.34 43.22
Growth rate 1.6 4 7 11.7 14.8
5. GDP
Million of Baht 1,218,708 1,188,753 1,210,670 1,282,199 1,269,991
5. GDP Implicit Deflators
The GDP implicit deflator moved upward by 2.4 percent from the same quarter of previous year,
which is the same growth rate as the fourth quarter of previous year. Furthermore, consumer price index
(CPI) and producer price index (PPI) rose by 1.4 and 2.8 percent, respectively.
--National Economic and Social Development Board--
-SS-
The Thai economy in the first quarter of 2001 measured by Gross Domestic Product (GDP) increased
by 1.8 percent lower than 3.2 percent in the previous quarter.
The rate of growth is considered the lowest since the second quarter of 1999, signaling the
slowdown of Thai economy in this quarter once again. It was mainly due to the export decreased by 3.5
percent, the public investment decreased by 24.4 percent and the only 3.1 percent increase in the household
expenditure in this quarter. However, there were still some economic stimulus which are the government
expenditure that increased 0.9 percent and the 10.7 percent jumped in the private investment.
Gross Domestic Product in this quarter valued at Bath 1,270 billion and after deduct by net
factor income payment from the rest of the world, the value of Gross National Product left at Bath 1,267
billion with an expansion at 5.2 percent. In the other word, it increased by 2.6 percent in real term.
Gross Domestic Product by seasonally adjusted in the first quarter decline from the fourth quarter
of previous year by 0.2 percent. It is the first decline since the third quarter of 1998.
2. Production
The production in this quarter slightly increased by 1.8 percent less than 3.2 percent in the
previous quarter. The causes of slowdown came from both the agricultural and non-agricultural sector.
2.1 Agriculture
The agricultural products continued to grow in every sub sectors therefore the total products
expanded 2.3 percent compared to the same quarter of previous year. The average agricultural product
price other than fisheries continued to increase by 4.8 percent, compared to 0.2 percent in the previous
quarter, while the average price of fishery product increased by 5.6 percent less than 9.3 percent in the
previous quarter.
- Crops: the production of crop expanded at a slow pace of 0.4 percent from the previous year.
The increased items included paddy, rubber, cassava, mung beans, coffee beans, vegetables, pineapple and
fruits. While there were some reduction in maize, soy beans, ground nuts, oil palm and especially a
considerably decrease in sugarcane which dropped by 14.9 percent from the previous year mainly due to
a widespread outbreak of stem borer in the crop year 2000/2001.
- Livestock: Livestock production still increased 8.8 percent. The poultry production expanded
at the highest rate as a result of the high demand from the European market for frozen and processed
chicken to substitute consumption of beef. However, cattle and buffalo were continuously decreased.
- Fisheries: The fisheries products grew 6.7 percent, in line with the expansion export both of
frozen and processed shrimps. The high export price was an incentive of increasing shrimp's cultivation.
The effect of mad cow disease in Europe caused the higher demand from foreign countries for seafoods to
substitute protein consumption from beef.
2.2 Mining and quarrying
Mining and quarrying sector continued to decline 7.0 percent mainly due to the less
production of natural gas which have the proportion of 57.0 percent to this sector. It decreased 9.6
percent because some amounts of natural gas was started to import from Myanmar. Furthermore, there was
a reduction in lignite, marble, granite and limestone products for industrial used. While crude oil
production in this quarter grew up 17.5 percent.
2.3 Manufacturing
The manufacturing sector expanded only 1.3 percent less than 4.0 percent in the same
quarter of previous year. The main factor is the declination in export of capital goods and high technology
goods in accordance with the decline economy of counter part countries. In this situation, the comparative
advantage of the country was increased because of the depreciation of Baht. In this quarter, the
labor-intensive industry increased higher than the others.
2.3.1 Labor intensive industries grew at the highest rate. The major industries were as follows:
- Apparel: The production expanded by 5.1 percent because of an increase of the export.
- Leather and leather products: It increased by 6.4 percent because of the export of leather
product increased by 40.0 percent
- Other industries: This sector increased by 4.7 percent because of the high export of
jewelry and ornaments at the rate of 29.4 percent.
2.3.2 Raw materials intensive industries sluggishly increased from the previous year. The major industries
were as follows:
- Petroleum refineries: The slight expansion was only 0.7 percent less than 10.5 percent
in the previous quarter due to the decrease in domestic demand.
- Non-metallic mineral products: The production of this sector decreased by 2.1 percent
because of the decline on cement production related to irrecoverable of construction and the decline in
the export.
2.3.3 Capital goods industries Most of these products decreased in this quarter especially high
technology and export oriented industries. However, the commodities for domestic market was still continuously
increased. Capital Goods industries were categorized in the difference of level of growth as follows:
The low growth industries were the manufactures of
- Office machineries: The production decreased by 9.9 percent because of the decline of
production of computers and equipment due to the decline of export demand.
- Radio, television and communication equipments and apparatus: These industries declined
by 9.5 percent because of the decrease of television production due to the decreased export demand by 8.5
percent.
The high growth industries were the manufactures of
- Machinery and equipment: These industries grew at the rate of 6.8 percent because of
the high export demand of air conditioners by 34.5 percent.
- Motor vehicles: This sector increased by 28.3 percent, especially the production of
private cars. This was a result of high export and domestic demand. However, the production of commercial
car was slightly increased.
2.4 Electricity, gas and water supply
This sector expanded by 5.4 percent due to the production of electricity slowly increased only
6.8 percent. A sluggish increased in the electricity was mainly due to the decline in the consumption
of electricity by all user types, especially the manufacturing sector. However, an increase in the
residential consumers resulted from the expansion of service area of the Provincial Electricity Authority.
A sluggish increased by 4.1 percent in the water supply sector but the gas sector dropped by 8.8 percent
in line with the production of natural gas.
2.5 Construction
This sector dropped by 5.5 percent. This contraction mainly came from the construction undertaken
by the government sector, which had a higher share, 64.4 percent, in the total value of construction.
In this period, the government construction decreased by 10.9 percent but the private construction
continually increased at the rate of 8.4 percent owing to an increase in the construction of residential
and commercial buildings.
2.6 Wholesale and Retail Trade
This sector expanded by 2.5 percent in accordance with the increase in both the domestic and
import transactions.
2.7 Hotel and Restaurant
This sector slightly increased by 4.6 percent. The restaurant which contributed 68.0 percentage
to this sector, slowly increased 3.1 percent and the hotel services, which had a 32.0 percentage share
in this sector, grew by 8.0 percent in line with the increased in the number of tourists.
2.8 Transportation and Communication
This sector expanded by 3.6 percent lower than the same quarter of previous year. The main
factor came from the telecommunication service organization, especially the Telephone Organization of
Thailand. The transportation by trucks slowed down due to the decline of the production of manufacturing
goods and agriculture products.
2.9 Financial Intermediation
Financial intermediation slightly expanded by 0.4 percent from the same quarter last year.
Although, the commercial banks were still very strict on their lending policy and it caused the loan growth
slowed down, the commercial banks' performance began to make profit, especially increase of interest
income and dividend as well as commercial banks can maintain BIS capital adequacy ratio at the end of
year 2000, therefore the performance excluded bad debt and doubtful debt become better.
3 Domestic Consumption Expenditure
3.1 Private Consumption Expenditure
The value of private consumption expenditure slightly increased 3.1 percent slow down from the
same quarter last year. The major factors were the decline in interest receipts, increase of oil price,
slowdown of the world economy which made people more careful on spending because of lack of confidence
on their income, especially people who mainly received income from interest
The expansion was mainly on the consumption of the following goods and services:
- Agriculture; Continuous expansion at 3.4 percent in accordance with an increase
in the quantity of vegetables and fruits consumption and also the celebration of Chinese New Year.
- Food, beverage and textiles; The expansion of 2.6 percent came from an increase
in the consumption of beverage by 11.1 percent especially both alcoholic and non-alcoholic drinks.
The consumption of meat, products of meat and oils decreased by 1.0 percent and textile declined by
1.7 percent compared with the same quarter of last year.
- Transport equipments; There was an increase by 9.4 percent in this quarter
due to the expansion of motor vehicles and motorcycles sold. This was a result of a launch of
new models in the domestic market.
- Electricity, gas and water supply; There was a continuous expansion at 10.2 percent.
An expansion in consumption of electricity and water increased by 10.9 and 7.7 percent, respectively.
- Transport and communication service; This sector increased only 4.6 percent.
The expansion of transport and communication service was 3.4 and 7.4 percent, respectively due to sales
promotion of telephone and mobile phone business.
- Hotel and restaurant; It still grew continuously at the rate of 4.9 percent
mainly due to the expansion of the tourist expenditure.
3.2 Government Consumption Expenditure
Government Consumption Expenditure at current price was recorded at Baht 135,594 million, with the growth
rate in real term 0.9 percent. This was a result of a slowly increased in compensation of employees and
purchase from enterprises and aboard by 0.2 and 2.5 percent, respectively. The sluggish increase mainly
came from the declining of the number of government officers as a result of early retirement program, and
the utilization of loan in the economic stimulus package (Miyazawa Loan) had sharply declined.
3.3 Gross Fixed Capital Formation (GFCF)
In this quarter, GFCF or investment decreased by 5.0 percent compared with the same period last
year as a result of contraction in public investment by 24.4 percent with a share of 35.5 percent.
However, private investment, its share at 64.5 percent, increased by 10.7 percent.
1) Private ; It expanded by 10.7 percent as a result of an increase by 11.3
percent in investment in machinery with its share of 78.4 percent in the overall private investment.
Similarly, the investment in private construction with its share of 21.6 percent also moved upward by 8.4
percent owing to an increase in the construction of residential and commercial buildings in both inside
and outside municipal areas.
2) Public ; In this quarter, the public investment dropped by 24.4 percent
mainly due to the public construction, which contributed 70.6 percent to the total, dropped by 10.9
percent. Lower investment and sluggish ongoing investment project of the state enterprises were the
main factors for the declination in the public construction. In addition, its investment in machinery
and equipment with a share of 30.4 percent declined by 44.8 percent. However, the public investment would
drop by only 9.6 percent if the investment in airplanes was excluded.
3.4 Change in Inventories
The total value of changes in inventories is Bath 36,129 million, which was higher than previous
quarter. The major contribution to this increase was from the higher stock of manufacturing goods,
especially of motor vehicles and parts. This was a result of expected high demand for motor vehicles.
Moreover, the higher stock of garment and petroleum products were the main factor of the increase in
stock of the manufacturing goods. Nevertheless, the change in inventories of agricultural goods decreased
because the main crops were already harvested in the previous quarter.
3.5 Export of goods and services
The export revenue of goods was Baht 692,012 million with the growth rate of 13.4 percent.
In term of U.S. dollar, it was 16,019 million U.S.dollar which decreased by 1.3 percent. It implied that
the exporter still received benefit from the depreciation of Baht. Nevertheless, in real term, the export
of goods declined 3.5 percent.
The service receipts was Baht 141,356 million with the growth rate of 5.1 percent due to an
increase in the revenue received from foreign tourists and transport services.
3.6 Import of goods and services
The import expenditure of goods was Baht 689,201 million with the growth rate of 28.1 percent.
In term of U.S. dollar, it was 15,953 million U.S.dollar with the growth rate of 11.6 percent lower than
42.7 percent in the previous year. It implied that the importer still took burden from the depreciation
of Baht . In real term, the import of goods declined 6.0 percent.
The service payments were Baht 88,407 million with the growth rate of 16.1 percent as the result of
Thai tourists payment abroad and other service expenditure.
4. Trade and services balance
There was a surplus on the trade balance account by Baht 2,811 million less than Baht 72,180
million surplus at the same quarter of last year because of the decrease of international trade.
Higher price and the depreciation in Baht were the main factors of the declination of international
trade. For the services balance, there was a surplus of Baht 52,949 million less than Baht 58,390
million in the same quarter of last year as the result of the growth rate of Thai tourists payment
abroad higher than the revenue. Finally, the total current account was Baht 55,760 million surplus,
contracted from the Baht 130,570 million surplus in the same quarter last year.
Export and Import of Goods and Services at Current Prices
2000 2001
Q1 Q2 Q3 Q4 Q1
1. Export goods and service
Million of Baht 610,040 607,642 737,296 778,356 692,012
Growth rate 30 20 31.3 28 13.4
Million of U.S. dollar 16,223 15,734 18,011 17,974 16,019
Growth rate 27.8 15 22.5 14.4 -1.3
2. Import goods and service
Million of Baht 537,860 571,705 675,548 728,354 689,201
Growth rate 45.3 33.6 43.4 38.5 28.1
Million of U.S. dollar 14,299 14,800 16,503 16,821 15,953
Growth rate 42.7 28 33.8 23.6 11.6
3.. Trade balance
Million of Baht 72,180 35,937 61,748 50,002 2,811
Million of U.S. dollar 1,924 934 1,508 1,153 66
Ratio per GDP (%) 5.9 3 5.1 3.9 0.2
4. Exchange rate
(Baht / U.S. Dollar) 37.65 38.66 40.99 43.34 43.22
Growth rate 1.6 4 7 11.7 14.8
5. GDP
Million of Baht 1,218,708 1,188,753 1,210,670 1,282,199 1,269,991
5. GDP Implicit Deflators
The GDP implicit deflator moved upward by 2.4 percent from the same quarter of previous year,
which is the same growth rate as the fourth quarter of previous year. Furthermore, consumer price index
(CPI) and producer price index (PPI) rose by 1.4 and 2.8 percent, respectively.
--National Economic and Social Development Board--
-SS-