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27 Sep 2023

Econ Digest

KResearch projects that overall Thai exports will contract by 2.5%YoY in 2023, down from its previous forecast

คะแนนเฉลี่ย

        Thailand’s exports unexpectedly rose for the first time in 11 months in August 2023, up 2.6%YoY. The growth was bolstered by substantial shipments of agricultural and industrial products to key trading partners, namely the US, Japan, and China.
        However, KResearch notes that although the country’s exports rebounded in August 2023, demand from the Chinese market has been weaker than anticipated in recent months. Additionally, a number of challenging factors – such as the global economic slowdown, currency fluctuations, volatile weather conditions, and geopolitical tensions – could also affect Thai shipments for the remainder of the year.
        Given this, KResearch projects that overall Thai exports will contract by 2.5%YoY in 2023, down from its previous forecast. Going forward, the country’s shipments of agricultural products may face challenges from the impact of the intensifying El Niño phenomenon, which remains an issue to be monitored.

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