People shopoing at Bangkok’s Chinatown — Reuters
BANGKOK: Thailand's economy grew faster than expected in the second quarter on robust export growth ahead of U.S. tariffs taking full effect, the state planning agency said on Monday as it slightly strengthened its full-year outlook.
Southeast Asia's second-largest economy grew 2.8% in the April-June quarter from a year earlier, the National Economic and Social Development Council said in a statement. That was above a forecast of 2.5% growth in a Reuters poll, but below the first quarter's annual rate of 3.2%.
On a quarterly basis, GDP expanded by a seasonally adjusted 0.6% in the April-June quarter, compared with the poll forecast of 0.3% growth, and close to the 0.7% pace in the prior quarter. The NESDC narrowed its 2025 GDP growth forecast to 1.8% to 2.3% from an earlier projection of 1.3% to 2.3% seen earlier. Last year's growth of 2.5% was slower than regional peers.
The agency cut its forecast of foreign tourist arrivals to 33 million this year down from an earlier estimate of 37 million. ($1 = 32.4200 baht) - Reuters
