The Bank of Thailand reported a slowdown of the Thai economy for December and the fourth quarter of 2023.
Exports remained stable, but some categories, such as white rice and machinery, declined due to various factors including sluggish global demand and reduced import demand in ASEAN countries. The industrial production index also continued to decline, particularly in the automotive sector.
- Industrial production, especially in the automotive sector, declined due to cautious credit extension by financial institutions and the increasing trend of imported electric vehicle use.
- Private sector investment indicators decreased after a previous acceleration, reflecting declines in machinery and equipment investment, capital goods imports, and construction sector sales.
- Foreign tourist arrivals increased after seasonal adjustment, driven by a higher number of Asian tourists, particularly…
