Key economic indicators show more recovery

BANGKOK, Nov 28 (TNA) –The gradual global economic recovery has helped push Thai exports in October to contract only 3 per cent compared to 17.7 per cent in the third quarter, according to the Ministry of Finance.

Ministry spokesperson Ekniti Nitithanprapas said consumption indicators from real-term value added tax collection in October contracted by 7 per cent  compared to 15.6 per cent in the third quarter of 2009.

As both exports and private consumption in October improved, so it was with foreign tourist arrivals. The number of international arrivals to Thailand in October jumped to 1.2 million, up for the second consecutive month this year, said Mr Ekniti.

The agricultural sector during the month rose positively for the first time in six months at 1.5 per cent compared to a contraction of 5.3 per cent in September, he said.

Unemployment remained low at 1.2 per cent of the total labour force in October  while international reserves stood at over US$135 billion, reflecting the country’s economic stability, said Mr Ekniti.

He said the Finance Ministry is confident that Thailand’s economy during the fourth quarter would outperform the third quarter and the ministry would  revise its economic projections for 2009 and 2010 before the end of December. (TNA)