26 Mar 2024

Thai Economy

Thai exports grew for the seventh consecutive month of 3.6% YoY in February 2024, supported chiefly by gold shipments (Business Brief No.4049)

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Factors contributing to Thailand's export growth in February 2024 compared to those in the previous year include a 7.5 percent increase in agricultural exports, notably rice, driven by both price and quantity factors, and a 5.2 percent rise in industrial exports, led by computers and related components.
Additionally, gold exports in February 2024 surged 309.5 percent YoY, attributable to price factors, and a low base of February 2023. Excluding gold, Thailand's exports in February 2024 would have grown by 1.2 percent YoY.
KResearch maintains our growth projection for Thai exports in 2024 at 2.0 percent in line with the improvements foreseen in global trade and projected increase in demand for many Thai products, particularly those in the industrial category. However, the slowing Chinese economy and geopolitical tensions may continue to pressure Thailand's outward trade in 2024.

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Thai exports grew for the seventh consecutive month of 3.6% YoY in February 2024, supported chiefly by gold shipments (Business Brief No.4049)

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Thai exports grew for the seventh consecutive month of 3.6% YoY in February 2024, supported chiefly by gold shipments (Business Brief No.4049)

Related Analysis

Households are Cautious about Spending in 1Q18

Thai economy continues to grow in 2018 Growth of 4.0% is expected (Business Brief No.3727)

Official launch of EEC: Key to Thailand’s Economic Development (Current Issue No. 2899 Full Ed.)

Thai Household Debt May Fall to 77-78% of GDP in 2018 (Current Issue No. 2896)

Economy Likely Unfazed by THB5-22 Daily Minimum Wage Hikes Nationwide (Business Brief No.3722 Full Ed.)

Household sentiment toward economy continues to improve for 3 straight months, sending positive signal for private consumption in 1Q18

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