The BOT reveals the Thai economy. Improved from almost normal economic activity
The Bank of Thailand (BOT) revealed that the Thai economy in September '20 improved from the previous month as a result of the economic activities that returned to normal in various sectors. And partly from temporary factors, special holidays
In addition, public spending remains a key driver. It expanded higher from both current and capital expenditures, while private consumption indicators stabilized. After continuing to shrink in the previous period
The value of merchandise exports excluding gold and private investment indicators contracted less in line with an improvement in industrial production. The tourism sector, however, continued to contract strongly as international travel restrictions continued.
Public spending, excluding transfers, increased from the previous month. Both current and capital expenditures are part of the expedited disbursement at the end of the fiscal year. Current expenditures expanded following disbursements for purchases of goods and services. After a steady decline in the past two months as both the federal government and state-owned enterprises have experienced higher capital expenditures.
Private consumption indicators also returned to stability compared to the same period last year after contraction six months in a row, benefiting from the announcement of an extra long holiday to compensate for the postponement of Songkran from April. And factors supporting the gradually improving purchasing power in line with household income both in and outside the agricultural sector This month, spending on durable goods returned to expand. Meanwhile, spending in other categories contracted less, especially on durable goods, partly due to the low base of the previous year.
The value of merchandise exports contracted 4.2% from the same period of the previous year. Excluding gold exports, exports contracted 3.7%, a sharp improvement from a 13.6% contraction last month, following almost all export categories. Corresponds to the needs of the สล็อตxo trading partner countries to recover In particular, electrical appliances continued to expand, electronics and machinery and equipment continued to expand, while the automobile and parts contracted less and the industrial production contracted less due to good production. In almost every product category Corresponds to the direction of exports and domestic spending. And had a low base last year in the automotive and petroleum sectors.
Private investment indicators contracted less than the previous month. This was due to the investment in machinery and equipment, improving in line with gradually recovering domestic and foreign demand. In addition, the confidence of the business sector continues to improve. However, construction investment expanded at a slower rate following sales of construction materials.
The value of merchandise imports shrank 8.1% from the same period last year. Excluding gold imports, imports shrank 6.7%, a smaller contraction from the previous month in all categories. Especially raw materials and intermediate goods and consumer products, which was in line with an improvement in overall economic activity.
The number of foreign tourists continued to contract from the same period last year. As a result of the existing measures to restrict international travel in Thailand, there are no foreign tourists arriving in the sixth month.
On the stability of the economy, headline inflation became more negative in line with energy inflation. This is due to the decline in domestic retail oil prices. While core inflation decreased slightly. The labor market has improved somewhat. But still fragile This is partly reflected in the declining number of Section 75 workers, but the proportion of jobless seekers in the social security system remains high. The current account registered a surplus, declining from the previous month. As the value of gold exports dropped significantly
