BANGKOK, July 31 — Thailand’s economy is projected to grow 2.2 per cent in 2025, slightly up from 2.1 per cent in an earlier forecast, amid global trade uncertainties, the Ministry of Finance said on Wednesday, reported Xinhua.
It said the improvement was attributed to industrial production and exports, which expanded more than expected, coupled with the continued growth of domestic consumption.
In a statement, the ministry said that exports, a key driver of the Southeast Asian country’s economic growth, are expected to rise 5.5 per cent year-on-year, up from the previous projection of 2.3 per cent.
Its Fiscal Policy Office director-general Pornchai Thiraveja noted that due to accelerated imports from trading partners in the first half of 2025, Thai merchandise exports are expected to slow down in the latter half of the year, affected by United States tariffs.
Speaking at a press conference, he said that industrial production is expected to rebound with annual growth of 1.2 per cent, following a contraction of 0.4 per cent in 2024, mainly driven by the recovery in automotive manufacturing and the production of electronic components and circuit boards.
Pornchai added that private consumption is projected to grow 3.1 per cent, supported by domestic purchasing power as reflected in robust value-added tax collections, which recorded consecutive growth over the past nine quarters.
Last year, the kingdom’s economy grew at 2.5 per cent.
