Thailand GDP benefits from broad vaccinations and restored tourism in fourth quarter

04-May-2021 Intellasia | Pattayamail | 5:02 AM Print This Post

The Thai Chamber of Commerce (TCC) expects a new state-private vaccination plan and good export prospects may help Thailand secure 1.5-3 percent GDP growth this year despite economic uncertainties caused by the third wave of Covid-19.

TCC chair Sanan Angubolkul said if vaccine procurement and distribution go as planned, along with better tourism in the fourth quarter, GDP will go up. Under this assumption, GDP growth may be as high as 3 percent in the third quarter and rise to 4 percent during the last three months of this year.

He said if the third outbreak lasts for 2-3 months, business groups predict it will cause damage worth 100-150 billion baht a month. However, the industrial sector will not be directly affected as the government is trying to avoid a broad lockdown.

Sanan also based his prediction on exports, which are expected to grow more than 4 percent this year because of a global economic recovery and vaccinations, and believed the economic impact will be smaller than last year. (NNT)


Category: Thailand

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