Thai Private Investment Stabilises Despite Global Risks

Thailand private investment stabilises despite concerns that Middle East conflict and baht volatility could hurt the economy, the Fiscal Policy Office said.

Capital goods imports, a proxy for private investment in machinery and equipment, jumped 43.7% from a year earlier in February, while exports rose 9.9% to USD29.4bn, extending a 20-month expansion.

Excluding oil, gold-related products and military supplies, exports grew 11%, led by electronics, electrical appliances and vehicles.

Foreign tourist arrivals rose 4.6% year on year to 3.26 million, domestic visitors increased 3.3% to 23.7 million, and the agricultural production index expanded 5.5%.

The data suggest Thailand private investment stabilises with support from tourism, exports and farming even as external risks linger.