In February 2023, the Thai economy continued to improve from the previous month according to the latest press release published by the Bank of Thailand on March 31st.
In February 2023, the Thai economy continued to improve from the previous month. The value of merchandise exports picked up in line with developments in manufacturing production and private investment. Private consumption also improved, especially in durable goods.
Meanwhile, activities in the service sector increased, following a good outturn in the number of foreign tourists. Government spending expanded from current expenditures of the central government as well as investment from state-owned enterprises.
Details of the economic conditions are as follows:
The value of merchandise exports, after seasonal adjustment, increased from the previous month in several categories. This included agricultural products such as sugar and crude palm oil, following a good production thanks to favorable weather conditions, while supply from other major exporters slowed down.
Exports of hard disk drives (HDDs) also picked up in line with its…
