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Thailand's economy has been slower due to its war and the decline in tourism industry, causing the country's planning agency to reduce its annual growth forecast.
The second largest economic economy of Asia has grown 3.3% from the same time last year, below the 4.2% percentage of Reuters analysis analysis. South-East Domestic total results were not revealed in the third quarter.
Thailand is not the only Asian country in which to affect its impact; trade war between the US and China. The latest data for the economies of the Philippines, Indonesia, Malaysia, China and South Korea is all showing weak growth, and the economy of Japan has declined in the third quarter of a year.
"Although the other engines are very hard, the two main engines that contain a large part of the country's GDP are two exports and tourism, "said Kasikorn Research Center analysis.
Export dropped, which accounts for more than 60% of GDP Thailand, 5.2% in September, and # 39; celebrating its first decline in 19 months. This suggests that trade between the United States and China is begins to adversely affect the exportation of the Golden Temple country.
|The Economic and Social Development Board aims to increase 7.2% exports this year, down from a previous 10% pre-statement. Picture: Reuter|
The fall on Chinese tourists falls into reducing tourist income, and, accounting for 20% of the economy. Nearly 50 tourists from China were killed in a boat crash in July.
The national planning body has reviewed the annual recital of the annual GDP to 4.2% from the previous rejection of 4.2% -4.7%. It is expected that its company will grow 3.5% -4.5% by 2019.
"The economy is slower than expected due to global demand because trade warrants reduce demand from Thailand's trading partners," said Tesaporn Sirisamphan, secretary of NESDB.
But Tosaporn said that the Thai economy is still strong, with a low unemployment rate of 1% and inflation of around 1.5%. The government's investment rose by 4.2% and private investment rose by 3% by 9% – the highest in 15 quarters, especially in the East Economic Zone of the country.