BANGKOK, Aug 6 — Thailand's economy is expected to grow between 1.8 per cent to 2.2 per cent this year, higher than a previous forecast of 1.5 per cent to 2.0 per cent, after the United States (US) lowered its tariff rate on imported goods from the country, a leading business group said today.
Last week, the US set a 19 per cent tariff on imported goods from Thailand, lower than the 36 per cent rate announced earlier this year.
Exports, a key driver of Thai growth, are now expected to rise between two per cent and three per cent this year, up from a previous forecast ranging between a 0.5 per cent drop and a rise of 0.3 per cent, the Joint Standing Committee on Commerce, Industry, and Banking said.
Southeast Asia's second-largest economy expanded 2.5 per cent last year, lagging behind its peers.
