According to a private-sector committee, Thailand’s exports are expected to slow down this year due to various factors such as the conflict in Ukraine and rising oil prices. The JSCCIB noted that despite the steady growth in the country’s export volumes during the first four months of the year, these factors are likely to affect the country’s growth rate for the rest of the year.
The Joint Committee on the Economic Outlook of Thailand (JSCCIB) maintained its forecast for the country’s economy, which is expected to grow by around 2.5 to 4% in 2022. It noted that the country’s tourism industry will play a vital role in driving the country’s growth.
The committee noted that the number of tourists visiting Thailand is expected to increase by around 8 million in 2022. In addition, the country’s inflation rate is expected to stay at around 5%. Although the global oil price has remained stable, the government’s efforts to prevent the rise in fuel and prices from happening at the same time have also helped keep the country’s economy on an optimistic track.
