BANGKOK, 8 July 2013 The University of the Thai Chamber of Commerce (UTCC) has adjusted down its anticipation of Thailand’s GDP growth, saying Thailand will only see a 4-4.5 percent growth this year.
Earlier this year, the UTCC predicted that Thailand would see 4.8-5.2 percent growth in its gross domestic product (GDP). But due to the lower-than-expected increase in the country’s exports, the UTCC has adjusted the GDP growth estimate down to only 4-4.5 percent. According to the UTCC, Thai exports will, this year, expand only by 3-5 percent, a nosedive decrease from 8.2 percent expected earlier. The country’s imports will only grow 7 percent, down 3 percent from the previous estimate.
The UTCC further revealed that Thailand’s inflation rate will stand in the range of 2.3-2.7 percent this year, lower than its previous prediction of 3.5 percent, while the average value of the Thai currency will be at 30.30 baht per one US dollar, compared to an earlier estimate of 29.30 baht a dollar.
