A number of 9.03 million international visitors landed in Thailand in the first quarter of this year, generating Bt455 billion in tourism revenue, according to the Tourism Authority of Thailand.

TAT expected a further increase in the second quarter, when 7.87 million international arrivals are anticipated. Tourism revenue in the period is expected to reach Bt375 billion.

Meanwhile, the Commerce Ministry’s data showed growth in export in March. Export value in the month reached US$19.1 billion, an increase of 1.3 per cent from the same period last year. Positive growth was registered for two months in a row, resulting in the 0.9 per cent growth rate in the first quarter when combined export value reached $53.83 billion.

In March, imports still contracted by 6.94 per cent on year to $16.16 billion. In the first quarter, imports contracted by 11.99 per cent to $45.64 billion.

Nevertheless, export value in March contracted 1.1 per cent on year if gold was excluded, as the value of electronics and electrical appliances continued to slide. Oil-related products also showed a decrease in value. Excluding gold, the three-month figures contracted 2.7 per cent.

Siam Commercial Bank maintained Thailand’s economic growth forecast for 2016 at 2.5 per cent, expecting the all-year export value to shrink 2.1 per cent from 2015.

SCB chief economist Sutapa Amornvivat said that despite positive signs in the global economic condition, it would take some time for Thai exports to recover as most export items were in low demand.