Thailand: GDP Growth Accelerated to 6 Percent in First Quarter 2008
In Bangkok the Government announced that the gross domestic product (GDP) increased by 6% to Baht 2,297.8 billion in the first quarter of 2008 compared to the first quarter of 2007. The growth was mainly driven by domestic demand. In the fourth quarter of 2007 the economy expanded by 5.6% in Thailand.
Prime Minister Samak Sundaravej promised to spur economic growth by spending on infrastructure investment. Consumer confidence climbed after the new government was formed this February and minimum rate wage was raised.
Trade balance at current market prices registered a surplus of Baht 95.1 billion.
On August 25th, 2008 the Office of the National Economic and Social Development Board will release the data for GDP in the second quarter of 2008.
