Thailand trimmed its economic growth forecast for 2024 on Monday despite a better-than-expected expansion in the January-March quarter, saying exports were projected to increase at a slower pace than previously thought due to external risks.

Thailand’s economy grew better-than-expected in the first quarter, fueled by tourism and private consumption, easing urgency on the central bank to respond to the government’s calls for lower borrowing costs.

Thailand’s economy grew in the first quarter thanks to strength in private consumption and tourism, despite continued weakness in goods exports.Gross domestic product rose 1.5% from a year earlier, compared with the 1.

Thailand's economy expanded 1.5% in the first quarter from a year earlier, official data showed on Monday, beating analysts' expectations. On a quarterly basis, Southeast Asia's second-largest economy grew a seasonally adjusted 1.