Thai Economy Posts Record Growth

Thailand's economy soared to a record 18.9 percent growth in the three months through December from the year-earlier period.

 

According to the National Economic and Social Development Board (NESDB), gross domestic product rose 3.6 percent compared with the previous quarter.

 

NESDB secretary general Arkhom Termpittayapaisith attributes the strong performance to strong domestic and international demand.

 

Rising car sales and production also helped lift GDP in the fourth quarter due to a government scheme to encourage new vehicle purchases.

 

The NESDB forecasts economic growth of 4.5-5.0 percent for 2013, after an expansion of 6.4 percent in 2012.

 

"An economic recovery in the United States, China and Europe will be good for Thai exports," Arkhom said.
 

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