Thailand's economy expanded at the fastest pace six years in 2018, driven by stronger domestic demand that offset slowing export growth, but the momentum is likely to lose steam due to a general election and a sluggish global economy.
Gross domestic product grew 4.1 percent in 2018, after a 4 percent expansion in the previous year, the National Economic and Social Development Council said Monday.
Both private consumption and investment grew at the fastest pace in six years, up 4.6 percent and 3.9 percent, respectively. On the other hand, export growth eased to 7.7 percent from 9.8 percent. Imports rose 14.3 percent, after a 13.2-percent increase in 2017.
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