Major Developments in Economic and Financial Market in 2007

Economic Developments

In 2007, the Thai economy expanded wel at the rate of 4.8 percent, the export sector being the major driving force. This corresponded to accelerated manufacturing production, particularly in the export-oriented industries. Meanwhile, domestic demand grew at a slower pace compared to the previous year. However, both consumption and investment began to exhibit signs of recovery in the second half of the year, in line with the speed-up in imports. Overal economic stability remained sound. The current account continued to register a surplus and international reserves stayed at a high level. Average inflation rate was lower than the previous year though accelerating in the fourth quarter as a result of the increase in oil prices.

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