Goods exports a drag on GDP even as tourism momentum builds.
According to the latest data released by the National Economic and Social Development Council on Feb 17, Thailand’s real GDP growth slowed significantly to 1.4% year-on-year in the fourth quarter of 2022 from 4.6% in the third quarter.
The fourth-quarter figure was a major miss from consensus estimates of 3.5% and lowered full-year growth to 2.6%.
The main drag on headline GDP growth was goods exports, which contracted by 10.5% year-on-year, while government consumption also declined by…