Weaker global demand the culprit
Economic growth in Southeast Asia is forecast to drop from 5.6% in 2022 to 4.6% this year, pressured by weaker demand as the global economy slows, says the Organisation for Economic Co-operation and Development (OECD).
According to the OECD’s Economic Outlook for Southeast Asia, China, and India 2023 report, Thailand’s economic growth is projected to increase from 2.6% last year to 3.8% in 2023, ranking sixth among regional economies.
Despite the global economic slowdown and weaker demand, Thai GDP is expected to expand by 3.8% in 2024.
Vietnam is projected to have the…
