Falling Exports Leads to Thailand Posting Slowest Growth in Three Years

Thailand recorded its slowest economic growth in three years in 2014 as political unrest curbed local consumption, while lower agricultural prices and cooling global demand hurt exports.

Gross domestic product rose 0.7 percent last year, the National Economic and Social Development Board said in Bangkok on Monday, matching the median estimate of 15 analysts in a Bloomberg survey. GDP grew 2.3 percent in the three months through December from a year earlier, compared with the median of 2 percent in a separate survey.

Prayuth Chan-Ocha, the army chief who became prime minister after a coup in May, is struggling to accelerate budget spending after an $11 billion stimulus package failed to spur local demand. Exports fell for a second consecutive year for the first time in at least two decades, and the central bank has said there is a growing probability that headline inflation may miss its target because of lower oil prices.


Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.