On March 19, 2001, Mr Sansern Wongchaum, Secretary General and the executive of NESDB, gave a press conference regarding on the Quarterly Gross Domestic Product of Thailand (QGDP) in the Fourth quarter of the year 2000 at the Dej Sanitwongse conference room, NESDB Office
The Secretary General reported that the overalleconomy had shown the further expansion of growth of 4.3 percent in the year 2000, which was slightly higher than that of 4.2 percent previous year. The fourth fquarter expanded by 3.1 percent as compared to the same quarter of last year of 2.8 percent. It ws the result of the increase of agricultural product in the market while exports began to slow down, the domestic demand declined due to higher oil price, and the price of agricultural products reduced owing to high stock accumulation at the end of that year.
He said that in the production sector products increased 31 percent, which was the result of the expansion in the agricultural sector of 4.2 percent such as rubber, maize and palm, and in the livestock and fishery of 2.8 and 5.1 percent, respectively. Furthermore, the nonagricultural sector expanded in many parts including manufacturing by 3.9 percent, service sector by 4.8 percent, and transprtation sector by 8.6 percent. However, construction and financial intermediary sectors have still dropping from the previous quarter.
Domestic consumption expenditure in this quarter slowed down from the previous quarter while the household consumption expenditure and export were expanded. However, their future trend had slowed down because household consumption expenditure increased by 3.9 percent compared to 4.1 percent in the third quarter due to reducing in agricultural products price and increasing of commodity price. In addition, the government consumption decreased by 5.3 percent and the gross fixed capital formation dropped by 15.5 percent while private investment expanded 6.9 percent as compared with the same quarter of last year because of the expansion in the capital investment.
Export of goods and services in this quarter expanded by 21.1 percent. The major export items were still the manufacturing goods particularly those used foreign materials. Expott of agricultural products was highest in rubber, fresh prawns, and frozen chicken. The revenue in service sector decreased 7.1 percent as a result of the decline in revenur from transportation and slightly increase of tourists. Moreover, import of goods and services increased from the same quaarter of last year by 32.1 percent. Capital goods were still the major import items, which were expanded 44.3 percent while the imports of intermediate goods increased 12.3 percent. However, expenditure for foreign services decreased 3.7 percent compared whith the same period of last year.
The surplus of the balance of trade and service was reduced For this quarte, the surplus was 99,619 million Baht, which reduced form that 138,485 million Baht wheres that of service account was 49,618 million Baht.
Besides, the Secretary General also referred to the Projection of the That Economy in 2001, that the economy would be foreseen to expand about 3.5 percentin 2001 due tothe slow down of economy since the latter half of 2000 to January 2001. Another important factor was the decline in world economy, particular the main exported countries where export volume decreased. This would affect trends of Thai export in the same direction
Development News Bulletin, National Economic and Social Development Board, Volume 16, No. 03 : March 2001 End.
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