BANGKOK, July 30 (Xinhua) -- Thailand's economy is projected to grow 2.2 percent in 2025, slightly up from 2.1 percent in an earlier forecast, amid global trade uncertainties, the Ministry of Finance said on Wednesday.
The improvement was attributed to industrial production and exports, which expanded more than expected, coupled with the continued growth of domestic consumption, the ministry said in a statement.
Exports, a key driver of the Southeast Asian country's economic growth, are expected to rise 5.5 percent year-on-year, up from the previous projection of 2.3 percent, said Pornchai Thiraveja, director general of the ministry's Fiscal Policy Office.
Due to accelerated imports from trading partners in the first half of 2025, Thai merchandise exports are expected to slow down in the latter half of the year, affected by U.S. tariffs, Pornchai told a news conference.
Industrial production is expected to rebound with annual growth of 1.2 percent, following a contraction of 0.4 percent in 2024, mainly driven by the recovery in automotive manufacturing and the production of electronic components and circuit boards, Pornchai said.
Private consumption is projected to grow 3.1 percent, supported by domestic purchasing power as reflected in robust value-added tax collections, which recorded consecutive growth over the past nine quarters, he said.
Last year, the kingdom's economy grew at 2.5 percent. ■
