The “Bank of Thailand” indicates that the Thai economy for March is shrinking. The cause of Covid’s traffic poisoning: economic activity is falling everywhere.

Don Nakornthap, Senior Director Macroeconomic Department The Bank of Thailand (BOT) revealed that the Thai economy and finance in March 2020 decreased more than the previous month. Due to the situation of the Covid-19 virus The impact of economic activities intensified in all aspects. Especially the tourism sector. Severe contraction at 76.4 percent over the same period last year. And it is a high contraction in all nationalities. As a result of the announcement of travel restrictions between many countries, including Thailand, to control the covid-19 virus outbreak.

In this sense, the export of goods contracted by factors supporting weak purchasing power and stricter disease control measures, while imports of goods increased 4.4 percent compared to the same period last year. Partly due to relaxation measures to close the cities of China Resulting in the importation of some groups of products to expand With respect to economic stability, adjusted for Worse direction General inflation is negative. Due to inflation in the energy category by price Crude oil in the world market is highly contracted, however, overall economic stability remains good.

For the Thai economy in the first quarter of 2020, contracting the same period last year. It is due to the decrease in economic activity. As a result, industrial production and private investment indicators contracted accordingly. Economic stability Headline inflation increased slightly from the previous quarter in line with core inflation. And inflation in the energy category resulting from last year’s low base