25 Aug 2023 Thai Economy Slowing global economy further pressured Thai exports to contract faster at 6.2% YoY in July 2023 (Business Brief No.4015 Full Ed.) คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star The global economic downturn further pressured Thailand’s outward trade to shrink steeper than prior estimates at 6.2 percent YoY in July 2023. The figure represents a contraction for ten straight months due to the sagging demand for Thai products from almost all trade partners, except the US, where Thai exports grew slightly. Meanwhile, Thai fruit exports to China increased at a slower pace in July 2023, after recording an accelerated growth in June 2023, which remained insufficient to support the overall Thai exports to China to grow in July 2023. As a result, the overall Thai shipments during 7M23 continued to shrink at 5.5 percent YoY. Thai imports also contracted at 11.1 percent YoY. Thailand, therefore, continued to sustain a trade deficit of USD8,285.3 million. Looking into the remainder of 2023, KResearch is of the view that although Thai exports will be supported by the relatively low base of 2022, the overall shipments will likely be pressured by the slowing economies of Thailand’s major trade partners, particularly China, which has seen slower-than-expected economic growth. Other factors that may threaten Thai exports include ongoing geopolitical issues, persistent drought that may dent agricultural outputs and forex volatility. Given this, KResearch expects that the total Thai exports in 2023 may shrink further from our current estimate of (-) 1.2 percent. 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