Thailand's economy grew at its fastest pace in seven quarters, as exports of rice, automobiles and computer chips climbed, while the United States remained the largest export market. The second-largest economy in Southeast Asia expanded by 5.7 percent in the fourth quarter of calendar 2007, accelerating from a revised 4.8 percent in the third quarter, the Thai government announced Monday. Exports, which account for about 60 percent of the Thai economy, grew 24 percent in the fourth quarter, up from 12.6 percent in the third quarter. Stronger demand from China and Eastern Europe offset weaker demand from the United States and Japan. In 2007 the U.S. remained Thailand’s largest customer, buying 12.6 percent of exports, followed by Japan at 11.9 percent and China, 9.7 percent.
Journal of Commerce
