Joint business group maintains growth outlook

Pink trumpet trees are in full bloom in Chatuchak Park as skytrain commuters cross the overpass at BTS Mo Chit, Bangkok. (Photo: Nutthawat Wichieanbut)

The Thai economy is expected to grow 3.0% to 3.5% this year, unchanged from a previous forecast, as tourism rebounds but exports weaken, a leading joint business group said on Wednesday.

Exports are expected to be flat or fall up to 1% this year, compared with a previous forecast of a rise of 1% to 2%, said the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB). 

The economy grew 2.6% in 2022, less than expected.