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Confidence levels in the Thai economy continue to rise

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Consumer confidence in Thailand is riding high. In fact it’s at its highest level in over 5 years. A growing economy and better prices for farm products is believed to be part of the continuing confidence.

Regions in the country which have a high level of manufacturing or tourism are reaping the benefits of the growing economy.

A survey by the University of the Thai Chamber of Commerce says that the rate of export growth in June and July this year is up over 8% when compared to the same time last year. In baht-terms, that represents a rise of 4.1%, year-on-year. The survey says that exports have continued to rise for the 17th month in a row.

Exports to almost all markets are on the rise. The only exceptions are the Middle East and US. But ASEAN countries, India, Russia and Japan are all recording double-digit expansion.

The University is forecasting an economic growth rate in the next 12 months to be up to 5%, a rise from past forecasts.

 

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