BANGKOK, 19th February 2018 (NNT) - Thailand's export growth rate last year reached a six-year high, driven by investment programs and a vibrant tourism sector.

Dr Porametee Vimolsiri, Secretary-General of the Office of the National Economic and Social Development Board (NESDB), revealed today that the Thai economy last year expanded by 3.9%. The export sector grew by 9.7%, totaling 235 billion US dollars or 7.97 trillion baht.

Private consumption rose by 3.2%, while private investments grew by 1.7%, in contrast to a 1.2% decline in government investments. The agricultural sector grew by 6.2%, while the industrial sector also grew by 2.5%. Tourism remained strong, as up to 35 million foreign tourists visited the Kingdom, spending up to 2.75 trillion baht.

The NESDB expects the economy this year to expand within the range of 3.6 - 4.6% in line with recovery in the global economy. Government spending will likely increase according to the fiscal budget. The export sector is expected to remain a key driver of the economy, with the NESDB projecting 6.8% growth.