Improved economic situation for May

Economic situation for the month of May continued to expand, thanks to 13.7 percent export growth which drove the economic engine, said Mr Krisda Jinavijarana, director of the Fiscal Policy Office, on Thursday.

He pointed out that consumption of the private sector also picked up as reflected in the 7.6 percent increase of value-added tax collection for the month of May which was in line with 15.4 percent increase in the number of new registration of motorcycles, thanks to continued revenue growth in the farming sector registered at 5.1 percent.

Private investment showed sign of recovery as reflected in the 13.7 percent increase in the import of machinery and capital goods, said Mr Krisda, adding that investment in construction also went up as reflected in the 40.4 percent in the increase of taxation from real estate transactions.

The number of tourist arrivals for the month of May was registered at 2.59 million, representing 4.6 percent increase compared to the figure a month earlier. Tourist arrivals for the first five months of the year stood at 14.61 million.

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