Thailand's Economy Is Sound, Its Trade With China Growing, Report Says
Xu Wei
DATE:  Jun 28 2018
/ SOURCE:  Yicai
Thailand's Economy Is Sound, Its Trade With China Growing, Report Says Thailand's Economy Is Sound, Its Trade With China Growing, Report Says

(Yicai Global) June 28 -- The Thai-Chinese Chamber of Commerce (Thai CC) and the Faculty of Economics of Thailand's Chulalongkorn University have jointly released their research report titled Thai CC Economic Index for the first time.

Thailand's economy was stable overall and moving in a positive direction in the first quarter, with increasingly closer economic ties with China and trade growing between the two countries, state news outlet people.cn reported yesterday.

Thailand's various sectors remain optimistic about the country's growth. Those surveyed included agriculture, manufacturing, construction, wholesale and retail, and accommodation and catering, all of which expressed satisfaction with and optimism about Thailand's economic performance in the first quarter and confidence in its continued growth in the second.

Thailand's economy developed at a faster pace in the first quarter of this year than last, mainly thanks to rising domestic consumption and exports, the survey shows. Notably, 83 percent of those polled worry the country's currency the baht will appreciate against the US dollar.

As the number of Chinese tourists visiting Thailand grows and China imports more goods from the Southeast Asian country in both quantity and categories, its economy is set to benefit. Trade, investment, and economic cooperation between the two have steadily climbed since the third quarter of last year, a survey on their economic relations in the first quarter shows. This is mainly thanks to ever-greater throngs of Chinese tourists, Thailand's swelling gross domestic product and exports to China, per the report.

Entrepreneurs polled remain upbeat about the development of economic relations between the two countries and project bilateral cooperation to expand further in the second quarter, the survey concluded.

The Thai CC hopes to offer a new economic perspective for entrepreneurs and provide the latest information on the Thai economy to investors by releasing the report, said Chen Zhenzhi, chairman of both the Thai CC and the Thai CC Economic Index.

The ranks of Chinese tourists visiting Thailand will continue to burgeon, and this will benefit its economy, Chulalongkorn University's Faculty of Economics predicts. Thailand's gross domestic product will grow and its exports to China will also rise. Trade between the two countries will also further expand, the university believes.

Editor: Ben Armour

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Keywords:   THAILAND,Ho Kankha Thai-Chin