Generative artificial intelligence (GenAI) is projected to raise Thailand's GDP by 6% by 2030, with hefty contributions from the trade and manufacturing sectors, according to a joint online survey by SCB X and SCB Economic Intelligence Centre (SCB EIC) of the country.

Thailand’s Fiscal Policy Office (FPO) maintained the country's GDP growth forecast for 2022 at 3.5% as the domestic consumption and tourism sector are recovering.

The Thai economy may fare better than expected, helped by recovering domestic consumption and exports, according to the Fiscal Policy Office (FPO).

Thailand’s exports in July contracted 11.3 percent year on year to 18.81 billion USD, while its imports were valued at 15.47 billion USD, contracting 26.38 percent compared to the same period last year.

Thailand’s economy contracted 1.8 percent in the January-March period from a year earlier, the sharpest fall in eight years in the first quarter, mainly due to the COVID-19 pandemic’s impact on tourism and domestic activity.

The Bank of Thailand has released its latest overview of the Thai economy, which it expects will grow more than 3 percent in 2021.

A free trade agreement (FTA) with the European Union (EU) is likely to stimulate not only exports but also imports and investment as well, helping to raise Thailand's GDP by 1.63 percent a year, according to a study.