The NESDB reveals that the GDP of the agricultural sector of Thailand in Q3/64 grew by 6.5%, except for the fishery sector, which is expected to grow by 1.7-2.7% for the whole year

Published 2021년 10월 20일

Tridge summary

The Thai agricultural economy experienced a 6.5% growth in the third quarter of 2021, recovering from a 1.1% contraction in the previous year due to drought conditions. This growth is attributed to increased rainfall, favorable weather, and higher prices of agricultural products, leading to expanded production areas and improved productivity in key crops, livestock, and aquaculture. However, the fisheries sector saw a 3.0% contraction, largely due to marine fishery output and the impact of COVID-19. The forest sector grew by 1.0%, and the agricultural service sector expanded by 4.8%. With a total expansion of 1.7-2.7% compared to 2020, the outlook for Thailand's agricultural sector is positive, despite challenges such as typhoons, COVID-19, weather variability, and fluctuating oil prices. The Office of Agricultural Economics will continue to monitor the situation closely to assess the potential impact on the agricultural economy in the fourth quarter.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Chantanon Wannakhajorn, secretary-general of the Office of Agricultural Economics (NESDB), as a spokesman for the Ministry of Agriculture and Cooperatives, revealed that the agricultural economy in the third quarter of 2021 (July-September 21) grew 6.5% from The same period of 2020, which has greatly improved compared to the 3rd quarter of 2020, which contracted by 1.1% due to the fact that in 2020 many areas of the country experiencing drought and drought causing insufficient water supply for agricultural production As of 2021, the situation has eased. As a result, the agricultural economy since the first quarter of this year has continued to expand. The increased rainfall from the end of 2020 to the beginning of 2021 led to the accumulation of water in the reservoir that important and in natural water sources increased including more favorable weather conditions And the beginning of the rainy season earlier than 2020 has allowed farmers to grow more crops. In addition, the ...

Source: RYT9