Thailand's economy expands in January on exports, domestic demand

BANGKOK, Feb. 27 (Xinhua) -- Thailand's economy expanded in January on a monthly basis, thanks to a surge in exports and improvements in the tourism sector amid robust domestic demand, the central bank said on Friday.

Exports, a key driver of the Southeast Asian country's economic growth, rose 7 percent in January from a month earlier, driven by ongoing expansion in electronics, particularly computer parts and telecommunications equipment, according to the Bank of Thailand.

Inbound foreign tourists and tourism receipts increased compared to the previous month, mainly owing to a rebound in short-haul markets, while long-haul arrivals also picked up, said the central bank's senior director Pranee Sutthasri.

Private consumption slowed in January following the end of economic stimulus measures, reflecting weaker spending on non-durable and semi-durable goods, Pranee told a news conference.

Meanwhile, durable goods consumption continued to expand as electric vehicle (EV) sales saw notable growth due to accelerated purchases before the expiration of the government's EV 3.0 incentive program, Pranee said. ■