"The Thai economy in February 2019 remained stable. Firstly, private consumption as reflected by VAT collection decreased slightly, while the passenger car sales were continually increased. Private investment as reflected by commercial car sales and real estate tax collection continually expanded although cement and steel sales declined slightly. For the supply side, the number of foreign tourist arrivalas expanded with decelerating rate due to the decreasing in the number of Chinese tourists as well as growth in the manufacturing production index slowed down. Apart from that, the agricultural production index and real farm income continually rose in line with the agriculral price index was recorded as the highest growth in 22 months. Moreover, the Thai Industries Sentiment Index was recorded as the highest level in 73 months. In addition, the internal economic stability remained favourable and external economic stability remained robust."
Mr. Warotai Kosolpisitkul, Fiscal Policy Advisor as Spokesperson of the Fiscal Policy Office, and Mr. Pisit Puapan, Executive Director of Macroeconomic Policy Bureau as Deputy Spokesperson of the Fiscal Policy Office revealed the economic report in February 2019 that "The Thai economy in February 2019 remained stable. Firstly, private consumption as reflected by VAT collection decreased slightly, while the passenger car sales were continually increased. Private investment as reflected by commercial car sales and real estate tax collection continually expanded although cement and steel sales declined slightly. For the supply side, the number of foreign tourist arrivalas expanded with decelerating rate due to the decreasing in the number of Chinese tourists as well as growth in the manufacturing production index slowed down. Apart from that, the agricultural production index and real farm income continually rose in line with the agriculral price index was recorded as the highest growth in 22 months. Moreover, the Thai Industries Sentiment Index was recorded as the highest level in 73 months. In addition, the internal economic stability remained favourable and external economic stability remained robust."
Economic indicators on private consumption expenditures in February 2019 declined as shown by VAT collection decreased slightly by -0.5 percent per year. However, private consumption in durable goods reflected from passenger car sales and registration of new motorcycles has recovered and showed positive expansion, in lines with the expansion of consumer confident index recorded highest in 5 months.
Economic indicators on private investment in February 2019 showed expanding sign especially in equipment and machinery sector reflected from commercial car sales increased by 9.0 percent per year. Moreover, real estate tax collection grew by 7.4 percent per year.
For the fiscal sector, total government expenditure in February 2019 was amounted at 200.2 billion baht and annual budgetary expenditure was disbursed at 182.1 billion baht as a result of current expenditure which was disbursed at 152.7 billion baht, capital expenditure which was disbursed at 29.4 billion baht, and carry-over budget which was disbursed at 18.1 billion baht .
External demand as reflected by export values in February 2019 was 21.55 billion USD showed positive expansion by 5.9 percent per year due to temporary impact from re-exporting military training equipment to the U.S.A.. Meanwhile, import values were 17.52 billion USD decreased by 10.0 percent per year. As a result, trade balance in February 2019 showed a surplus of 4.0 billion USD.
Supply-side indicators in February 2019 was mainly driven by agricultural sector especially the agricultural production index and real farm income continually rose in line with the agriculral price index was recorded as the highest growth in 22 months. While the number of foreign tourists remained stable and industries sectors declined slightly reflected from manufacturing production index (MPI) decreased by -1.6 percent per year.
Internal economic stability remained favourable and external economic stability remained robust.
Source: Ministry of Finance