BANGKOK (Reuters) -Thailand’s economy is expected to grow 1.8% to 2.2% this year, higher than a previous forecast of 1.5% to 2.0%, after the United States lowered its tariff rate on imported goods from the country, a leading business group said on Wednesday.
The United States last week set a 19% tariff on imported goods from Thailand, lower than the 36% rate announced earlier this year.
Exports, a key driver of Thai growth, are now expected to rise between 2% and 3% this year, up from a previous forecast ranging between a 0.5% drop and a rise of 0.3%, the Joint Standing Committee on Commerce, Industry and Banking said.
Southeast Asia’s second-largest economy expanded 2.5% last year, lagging peers.
(Reporting by Orathai Sriring and Thanadech Staporncharnchai; Editing by David Stanway)
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