Exports jump by 12.7% in May, private consumption up
The economy marked improvement in May on the back of 12.7-per-cent export growth to US$19.9 billion, reinvigorated private consumption and galloping tourism.
Krisda Chinavicharana, director-general of the Fiscal Policy Office, said outbound shipments were driven mainly by electronics components, agricultural products, vehicles and parts, rubber products, electrical appliances, fuel, plastic pellets, chemicals and agro-industry products.
Private consumption also rose, as indicated by a 7.6-per-cent year-on-year increase in value-added-tax collection at constant prices in May and a 15.4-per-cent increase in new motorcycle registrations.
Farm income edged up 5.1 per cent year on year, while passenger-car sales rallied for the fifth month, by 4.4 per cent year on year.
Foreign arrivals climbed by 4.6 per cent year on year to 2.59 million.
Private investment signalled a recovery in machinery and tools, a reflected by a 13.7-per-cent rise in imported capital goods.
