Thailand's 3Q16 export value achieved the highest growth in six quarters with a 1.2 percent YoY rise. The overall value of Thai shipments during the first nine months of 2016 (9M16) thus subdued 0.7 percent YoY, with automobiles, electrical appliances and food as major products that had a crucial role in the export expansion during 3Q16. Over the remainder of this year, many setbacks are still likely, considering a still-fragile world economy, especially in the economies of key trade partners like China, plus faltering global gold prices that have slowed our gold exports. Over 9M16, Thailand's gold shipments recorded better-than-expected performance and a rosy outlook has continued for automobiles/parts, rubber products and processed food, thanks to the US economic turnaround.
Bearing these factors in mind, we at KResearch have revised our forecast for 2016 exports to achieve perhaps 0.5 percent YoY contraction, versus the 1.8 percent YoY decline estimated in September 2016.