Thai economy grows at a lackluster 1.5% in Q1

Robust tourism lends support but weak exports weigh down overall growth

20240520 Thai GDP AP24132459978339.jpg

A tourist is seen passing in front of ZaZa Asia Cannabis dispensary and weed shop, on Sukhumvit Road, in Bangkok. Legalization of cannabis has made a certain contribution to attracting tourists. (Sipa via AP Images) © AP

APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer

BANGKOK -- Thailand's economy grew at a lackluster pace in the first quarter of 2024 as weak exports pared gains from the country's red-hot tourism sector, according to the National Economic and Social Development Council (NESDC).

The country's gross domestic product for the quarter through March expanded 1.5% from the year-earlier period, largely thanks to the tourism industry, which accounts for nearly 20% of GDP.

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