The Thai economy grew slower than expected in the second quarter, with weaker exports offset by strength in tourism.
The government has revised its GDP growth forecast for 2023 to 2.5% to 3.0% due to slower exports.
The economy grew 1.8% in the April-June period, below economists’ expectations. The tourism sector and private consumption have supported the economy amid weak global demand. Exports have been declining since October 2022, mainly due to a slowdown in China.