For the eighth consecutive month, exports from Thailand are rising, pulling the entire economy up, to the point that the full-year economic growth could reach 10%.
This rise in exports is due to China’s economic stimulus measures, as the Chinese government has decided to inject money into the economy to increase the consumption of its citizens, which has automatically increased demand to other Asian countries. In addition, the recovery of economic growth among its major trading partners, including Europe, Japan, and the United States, contributed to this sharp rise in exports. By way of illustration, exports to Europe increased by 28%, those to the United States by 11% and those to Japan by 8%.
Thai growth was 4.3% for the third quarter of 2017, its highest value in three and a half years. The increase in growth, however, is not confined to Thailand but is part of a global dynamic in the Southeast Asian region, particularly in Vietnam and the Philippines.