Thailand's economy released today its report to show the gross domestic product (GDP) in Thailand for the second quarter of the year, where the Thai economy expanded more than analysts' expectations as exports increased, helping the recovery to rebound, and facing the political turmoil impact during April and May.
The Thailand's annualized gross domestic product inclined 9.0% during the second quarter of the year, compared with a previous 12.0% a year earlier, while the actual reading came higher than expectations that referred to 8.0%.
Moreover, quarterly gross domestic product for the second quarter rose by 0.2%, compared with a previous reading 3.8% during the first quarter, which was revised to 3.3%, while the analysts' expectations were set at -1.4%.
Analysts indicates that higher exports is the main reason behind the expansion, while it is a possibly offset the decline in consumer demand, whereas the monetary policy of the Bank of Thailand may hike the interest rate by 25 basis points in upcoming period.
According to the Thailand's report, where the nation's exports rose 46% during June from a year earlier, which is the most in more than 18 years, before cooling to a 20.6% pace last month.
Today's report showed that the exports of cars and electronics advanced from the previous, and the tourists are rebounding Phuket's beaches after protests ended.
On the other side, the Central Bank of Thailand indicates that the economy may expand as much as 7.5%, which would be the strongest pace since 1995, helping the curb the Asian financial crisis in which Thailand, Indonesia and South Korea.
Monetary policy noted that overseas sales may decrease during the second half of the year, reflecting that a cooling demand in the global economy, even as the government raised its exports growth target by 20%.
