Economic Growth in Thailand in 2017

Updated on Wednesday 13th December 2017

Economic Growth in Thailand in 2017 Image There are strong reasons for which the Thai economy registered in 2017 a spectacular growth. The public investments as well as the large demand from foreign countries have generated a growing trend which is expected to continue at least until 2019. The economic activity has intensified and the business confidence level is rising. Investors from all over the world want to enter the Thai market and profit of these stimulating conditions. You can rely on our law firm in Thailand to find out how a company can be set up in this country, under the Thai Commercial Law.

GDP growth rate in Thailand in the last year

Compared to a slower growth of the previous years, in 2017 the Thai economy advanced with 4.3%. This powerful expansion was possible thanks to the rises which took place in the investments and exports activities of the Thai state. Private consumption growth and governmental spends were also factors of huge importance in the rise of the Thai GDP of this year.

The evolution of the GDP in Thailand in 2017 is one of the most spectacular in the last four and a half years. This fact motivates investors to set up companies in this country in various business fields. You can rely on our Thai lawyers for the opening of a bank account and for the preparation of the registration file to be submitted with the Department of Business Development.

What led to economic growth in Thailand?

There were many factors which led to the economic growth in Thailand in 2017. The 2.8 % growth of public spending on infrastructure projects, together with a growth of the exports segment up to 7.4 % determined the boost in the Thai economy.

Each sector of Thailand registered a significant growth this year the most striking being agriculture, with a rise in production of 9.9%. wholesale and retail trade also grew up to 6.4%, from 6% in the first quarter of the year. The analysts predict the next two years are going to continue the positive trend.

Feel free to contact our attorneys in Thailand in order to find out the particularities of the Thai Commercial Law and  invest in the Thai economy so that you can profit of the economic growth of this country.