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Thai GDP grew 2.6% in 2022 as slow exports outweighed tourism gain

Slumping trade behind country's tepid October-December 1.4% rise

Tourists at Bangkok's Suvarnabhumi Airport in Bangkok on Jan. 4. The recovery in tourism has helped the Thai economy but exports remain in a slump.   © Reuters

BANGKOK -- The Thai economy expanded 2.6% in 2022, undershooting expectations that were already modest as a strong recovery in tourism and domestic consumption failed to offset slumping exports.

Gross domestic product rose in 2022 from the previous year, when the economy grew only 1.5%. Consumption increased 6.3% in the year even as core inflation rose 6.1%. Private investment also ticked up 5.1% and lifted GDP in 2022.

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