26 Jul 2023 Thai Economy Thai exports contracted by 5.4 percent YoY in 1H23 amid global economic slowdown; other challenging factors such as weather conditions may exert additional pressure going forward (Business Brief No.4012) คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star Thai exports contracted less than expected at 6.4 percent YoY in June 2023 despite the high base of 2022. This is because exports to the Chinese market resumed growth at 4.5 percent YoY due to an increase in fruit exports, though shipments to other major markets continued to decline. Amid pressure from slowing economies among key trading partners, total export value reached USD 141 billion in 1H23, declining by 5.4 percent YoY, while imports were valued at USD 147 billion, shrinking by 3.5 percent YoY. As a result, Thailand recorded a trade deficit of USD 6,307.6 million. KResearch holds the view that 2H23 Thai exports will remain under pressure from an economic slowdown among trading partner countries. Other challenges that may impact Thailand’s overall exports include unfavorable weather conditions that could affect agricultural production, ongoing geopolitical tensions, and currency volatility. However, Thai shipments during 2H23 may resume growth thanks to the low base of 2H22, especially in the last quarter. KResearch thus maintains our growth forecast for Thai exports in 2023 at (-)1.2 percent YoY. 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