30 May 2023 Thai Economy Anemic global economy pressured Thai exports to contract further at 7.6% YoY in April….International trade will present another important challenge for the new government (Business Brief No.4006 Full Ed.) คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star In April 2023, the slowing global economy pressured Thai exports to contract faster than previously thought. Despite the low base of the previous month, ebbing global demand caused Thailand’s outward trade to shrink for the seventh consecutive month of 7.6 percent YoY in April. An important factor affecting Thailand’s outward trade was the shrinkage of shipments to almost all major trade partners, including the US, Eurozone and Japan. Key exports to the United Arab Emirates resumed a steeper contraction in April 2023, as well. Nevertheless, shipments to China began to pick up, growing 23.0 percent YoY after shrinking for ten straight months. Looking ahead, KResearch is of the view that the slowing economies of Thailand’s major trade partners, led by the US, along with other downside risks, including geopolitical issues, volatile currencies, and unfavorable weather conditions, will likely pressure the Thai export sector further. However, it may be supported by several positive factors, including the recovery in Thai exports to China in April, and the low base of 1H21. Given this, KResearch maintains our growth forecast for Thai exports in 2023 at (-)1.2 percent. Additionally, we are of the view that the country’s international trade will present another important challenge for the new government, particularly the export sector, in terms of fostering trade relations with existing trade partners, plus studying, negotiating and entering agreements with new trade partners . 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 Export 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