The private sector expects economic growth to slow down in the second half of this year on slower exports and tourism, rising imports, oil prices and the baht's appreciation.
The projection was announced by the Joint Standing Committee on Commerce, Industry and Banking on Tuesday.
The committee said that arrivals of Chinese tourists dropped in August because of economic problems in China. In the first eight months of this year, Thailand drew 25.89 million visitors, up 9.9% year-on-year. They included 7.73 million Chinese, up 16.5%.
The committee expected foreign tourists to spend more as the Revenue Department has opened three downtown Bangkok outlets for value-added tax refunds for departing foreign tourists.
Exports grew well in the first eight months of this year and should benefit from orders in the lead-up to the festive holidays late this year. The joint committee expected export growth at 8.0-10.0% this year, up from 7.0-10.0% earlier.
The committee was concerned about the trade dispute between China and the United States and said it could affect exports equivalent to 0.6-0.8% of gross domestic product next year.
It also warned of the possible impact if global oil prices rise because of the tensions between Iran and the US.
The committee expected 2018 GDP growth of 4.4-4.8%, revised from 4.3-4.8%.
