The value of Thai merchandise exports in August resumed growth of 6.5 percent YoY for the first time after shrinking throughout the past four months. The increase was buoyed largely by higher shipments of cars & auto equipment/components, air-conditioners and processed agricultural products, as well as a low 2016 base. As a result, the value of Thai shipments in 8M15 contracted only 1.2 percent YoY.
Given the favorable August export performance despite the fragile global economic growth, we at KResearch has decided to revise upward our 2016 growth forecast for the Thai export value to a contraction of 1.8 percent YoY, against a shrinkage of 2.0 percent YoY before.
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