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Thailand economic growth surprises analysts

in Afghan Business

Thailand economic growth surprises analysts

thai economyThailand’s economy recovery exceeded expectations in the last three months of 2012, growing at 18.9% in the October-December period, while analysts had expected a figure close to 15%.

The economy is continuing to recover from the previous year’s devastating floods which resulted in many factories being shut.

The country’s exports, one of the key drivers of its economic growth, began to decline drastically.

“Overall, the Thailand economy is in a pretty good shape right now,” Rahul Bajoria, an economist with Barclays Capital told the BBC.

“It is unlikely that the central bank will cut rates anytime soon. The numbers clearly indicate that there is no urgent need to do that.”

Thailand’s government is likely to turn focus towards inflation, given the robust growth in domestic demand.

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