Although domestic consumption and tourism industry both climbed in Dec, the central bank reported on Tuesday that exports suffered due to the weakening economy of Thailand’s trading partners.

Tourism has done much better than initially expected since China re-opened earlier than predicted.

The Bank Of Thailand increased its predictions for international tourist visits this past week from 22 million – 25.5 million for this year & 34 million the following year

Thailand’s economy

Thailand’s economy

The baht has gained roughly 5.4% it against the dollar thus far this year, making it Asia’s top – performing currency. The tourism recovery has contributed to this rise.

Exports, a crucial driver of Thailand GDP, fell 12.9% year on year in Dec, with imports falling 10.5% and then a trade surplus of $1.0 billion.

The second-largest economy in Southeast Asia continued to grow over the past three months largely owing to tourism. Although exports declined, as reported by the Bank Of Thailand