"The Thai economy in November 2018 was mainly driven by domestic demand, especially private consumption reflected from real VAT collection expanded by 9.6 percent, the highest expansion in 4 months. In addition, private investment in equipment and machinery sector reflected from commercial car sales also record a double digit growth of 26.9 percent. For external demand, export of goods and services slightly contracted, whereas, number of foreign tourists turned to show positive expansion"
Mr. Pisit Puapan, Executive Director of Macroeconomic Policy Bureau as Deputy Spokesperson of the Fiscal Policy Office and Mr. Pongnakorn Pochakorn Director of Macroeconomic Policy Analysis Division revealed the economic report in November 2018 that "The Thai economy in November 2018 was mainly driven by domestic demand, especially private consumption reflected from real VAT collection expanded by 9.6 percent, the highest expansion in 4 months. In addition, private investment in equipment and machinery sector reflected from commercial car sales also record a double digit growth of 26.9 percent. For external demand, export of goods and services slightly contracted, whereas, number of foreign tourists turned to show positive expansion.
Economic indicators on private consumption expenditures in November 2018 continually improved as shown by real VAT collection passenger car sales and import volume of consumption goods.
Economic indicators on private investment in November 2018 showed expanding sign especially in equipment and machinery sector reflected from commercial car sales which recorded the double digit expansion of 26.9 percent.
For the fiscal sector, total government expenditure in November 2018 was amounted at 226.3 billion baht and annual budgetary expenditure was disbursed at 199.7 billion baht as a result of current expenditure which was disbursed at 181.4 billion baht, capital expenditure which was disbursed at 18.3 billion baht, and carry-over budget which was disbursed at 26.6 billion baht
External demand as reflected by export values in November 2018 was 21.2 billion USD decreased by -0.95 percent per year. Meanwhile, import values were 22.4 billion USD. As a result, trade balance in November 2018 showed a deficit of 1,178 million USD.
Supply-side indicators were supported by Thai Industries Sentiment Index (TISI) and number of foreign tourists. Meanwhile, Agricultural Product Index (API) slightly contracted.
Internal economic stability remained favourable and external economic stability remained robust.
Number 76 /2018
26 December 2018
Source: Fiscal Policy Office / www.fpo.go.th