at a slower rate than the same period last year. Supporting factors included an increase in private consumption from both the agricultural sector (driven by an increase in rice prices) and the non
economy has moved on a positive trajectory and has followed a similar pattern to the previous quarter of last year. Since the second half of 2017 growth has been driven by the manufacturing sector, which
, the tourism sector and a recovery in exports due to an improvement in the economies of our trading partners. As a result there has been an increase in the purchasing power of consumers in major cities
contraction of the Thai economy. The economic growth inclined to be slower than forecasted which was mainly due to the trade tensions and the weakening of economy worldwide. Particularly, the export sector has
to grow slower than forecasted. It was mainly due to the weakening export sector which attributed to the declining demand worldwide, resulting in the stagnant economic growth in several major trading
expected to severely contract during the outbreak. The export sector has been impacted by declining demand from trading partners and supply chain disruption, while the tourism sector has been impaired by
sector contracted sharply due to international travel restrictions. Therefore, the Thai economic recovery would take time to return to pre-pandemic levels. The first nine months was a challenging period
opened the first overseas branch in Causeway Bay, Hong Kong, which is another strategy to serve long- term growth and diversify risk. The store has continuously received good response following the
shrinking of the export sector due to lower demand from overseas trading partners. In addition, this has negatively impacted local economic activity, particularly consumption and investment in the private
been mainly driven by improvements in tourism and industries related to the export sector. In contrast, provinces that rely on agriculture have not yet seen a clear pick-up, despite higher agricultural