30 Mar 2023 Thai Economy Thai exports in 2023 may see a deeper contraction of 1.2 percent, affected by the global economic slowdown (Business Brief No.3996 Full Ed.) คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star Thailand’s export sector in early 2023 remained under pressure from a slowing global economy. The country’s shipments in February contracted for the fifth consecutive month, down 4.7 percent YoY, due mainly to an economic slowdown among its key trading partners such as the US, the Eurozone and Japan. This is reflected by the Purchasing Managers' Index (PMI) of such countries’ manufacturing sector in February 2023, which remained below the threshold of 50. As a result, Thai exports to almost all major markets – except the Eurozone – have declined, especially electronic products, electrical appliances, plastic pellets and plastic products. However, shipments to China have seen improvement with smaller declines, thanks to its cancellation of COVID-19 control measures at the beginning of 2023. KResearch holds the view that Thailand’s overall 2023 export growth will continue to be pressured by the global economic sluggishness. As evidenced, the US and Eurozone economies have faced heightened uncertainties, especially problems in the banking sector. This may have an impact on Thailand’s international trade. Additional factors affecting the country’s outbound shipments are the high base of 2022, and global commodity prices that have tended to decline compared to the previous year. Meanwhile, China's demand for products has gradually increased following the lifting of its COVID-19 containment measures. KResearch therefore projects that 2023 Thai exports may shrink by 1.2 percent (from a previous contraction of 0.5 percent forecast in January 2023). View full article Login / Register Or Enter the code from the poll Annotation This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow. Thai Economy ExportEconomic conditions Related Analysis View all 12 Mar 2018 Thai Economy Households are Cautious about Spending in 1Q18 According to a survey on household economic conditions for February, views of Thai households across the country toward economic conditions and the cost of living over the next three months remained unchanged. This is reflected in the 3-month Expected KR-ECI that was static at 47.1 in February. Households still had positive views toward income and employment, given the daily minimum wage rise slated for April 2018, while prices of some key agricultural produce, namely “Hom Mali” rice and cassava, have begun to increase. However, households were concerned about growing debt.... Read more 0 KB 0 KB 19 Feb 2018 Thai Economy Thai economy continues to grow in 2018 Growth of 4.0% is expected (Business Brief No.3727) The Thai economy in 4Q17 was buoyed by high growth in exports and tourism, while household consumption started to improve compared to... Read more 0 KB 0 KB 9 Feb 2018 Thai Economy Official launch of EEC: Key to Thailand’s Economic Development (Current Issue No. 2899 Full Ed.) The National Legislative Assembly (NLA) has approved the Eastern Economic Corridor (EEC) bill which is expected to boost investor confidence in large-scale, long-term investments by providing private investors additional incentives, namely non-tax privileges and a speedier process for licensing, in addition to the government's efforts to promote EEC investment through infrastructure projects and tax incentives. ... Read more 0 KB 0 KB 22 Jan 2018 Thai Economy Thai Household Debt May Fall to 77-78% of GDP in 2018 (Current Issue No. 2896) In 3Q17, Thailand's household debt fell from 78.4 percent of GDP – as recorded in 2Q17 – to 78.3 percent of GDP, which could be the res... Read more 0 KB 0 KB 18 Jan 2018 Thai Economy Economy Likely Unfazed by THB5-22 Daily Minimum Wage Hikes Nationwide (Business Brief No.3722 Full Ed.) The National Wage Committee recently agreed to raise the daily minimum wage to THB315.97, on average, or a range of THB308-330 across the... Read more 0 KB 0 KB 12 Jan 2018 Thai Economy Household sentiment toward economy continues to improve for 3 straight months, sending positive signal for private consumption in 1Q18 ... Read more 0 KB 0 KB View all