Thailand's GDP grew at a faster rate of 2.8% in the first quarter from 2.5% in the prior quarter, according to the Office of the National Economic and Social Development Council on Monday.
Private consumption remained steady, rising 3.2%, supported by stronger spending on semi-durable and non-durable goods. Meanwhile, government spending increased 3.4%, accelerating from 1.3% in the fourth quarter, driven by higher purchases of goods and services and increased social transfers.
Exports of goods and services expanded 12.6%, accelerating from 5.9% previously, while imports surged 21.1% from 9.5%. The external sector posted a surplus of 63.6 billion baht, comprising a trade deficit of 9.6 billion baht and a services surplus of 73.3 billion baht.
On the production side, agriculture grew 1.2%, up from 0.6% in the prior quarter, while the non-agricultural sector expanded 3.0%, accelerating from 2.7% in the fourth quarter. Industrial output rose 1.8%, improving from 0.9%. The service sector increased 3.6%, slightly higher than 3.5% previously.
Wholesale and retail trade expanded 6%, though slower than 6.7% in the previous quarter, the data showed.