26 Apr 2023 Thai Economy Thai exports contracted 4.5% YoY in 1Q23, pressured by the slowing global economy and the high base of 2022 (Business Brief No.4000 Full Ed.) คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star Thai exports contracted for the sixth consecutive month in March 2023 at 4.2 percent YoY due to the high base of the previous year. When compared to the preceding month, March shipments, however, hit a 12-month high of USD27,654.4 million in line with higher exports of agricultural and industrial products in many categories. Nevertheless, the overall exports in 1Q23 shrank 4.5 percent YoY, while imports contracted slightly at 0.5 percent YoY. As a result, Thailand continued to sustain a trade deficit of USD3,044.2 million. Regarding the outlook for Thai exports during the remainder of 2023, KResearch views that they will likely be pressured by the global economic slowdown, along with uncertainties surrounding geopolitical issues, banking turmoil in many Western countries, extreme weather conditions and currency movements. Such factors, coupled with the steepest contraction in 1Q23 shipments, caused by the high base of 1Q22, have led KResearch to maintain our growth forecast of 2023 Thai exports at (-)1.2 percent. Looking ahead, we expect that Thai shipments will continue to contract in 2Q23, but they may resume growth during 2H23, due to the low base of last year. Although, Thailand’s trade balance reverted to a surplus of more than USD2.7 billion in March 2023, KResearch views that it will turn to a deficit due to the declining export value while imports are set to remain high in line with steady growth in domestic demand and volatile global crude oil prices. 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