Connect with us

Economics

Thai exports leap 13.2%YOY in August, the highest rate in 55 months

Thai export value in August expanded 13.2%YOY in most product categories and major markets, except for exports of auto and parts to the Middle East and Australia

Published

on

Thai export value in August expanded 13.2%YOY in most product categories and major markets, except for exports of auto and parts to the Middle East and Australia.

For major manufacturing products, export of electronics and electronic appliances, increased 13.5%YOY and 6.3%YOY, respectively. Growth was driven by growing demand for Thai manufacturing products thanks to an improvement in the global economy. Overall, Thai exports during the first 8 months of this year grew 8.9%YOY.

Thai import value continually grew 14.9% YOY.

Imports of fuel increased 58.1%YOY while those of computer and parts, expanded 16.6%YOY, following Thailand’s export trend of related products.

Moreover, the continuing recovery in imported capital goods (excluding aircrafts and ships), which grew at 7.6%YOY, reflected a rebound in domestic investment. In general, Thai imports in the first 8 months of this year surged 15.4%YOY.

EIC expects the export value growth in 2017 to be 5.5%

as supported by steady improvements in major trading partners’ economies, including the U.S., Eurozone, Japan, and China.

In addition, mitigating political concerns in Europe will boost trade and investment confidence, which in turn bolster demand for Thai manufacturing products during the remainder of this year. Nonetheless, exports of commodities might be weighted down by a slower growth of oil prices and a stronger appreciation of the Thai baht than regional currencies.

In fact, Thai exports could beat our forecast at 5.5% provided that growth in manufacturing sector and global trade continues to exceed expectation.

EIC expects the value of Thai imports in 2017 to expand 11.3%YOY as domestic investment could further recover during the rest of the year, prompting demand for raw material and capital goods. However, growth in import value of fuel might start to soften given the outlook on oil prices.

Author: Pimnipa Booasang

Source link

Economics

World Bank lowers Thai GDP growth outlook to 2.2%

In the Thailand Economic Monitor released today, the World Bank adjusted its outlook on Thailand’s economic growth this year to just 2.2% from its previous forecast of 3.4%.

Published

on

BANGKOK, July 15, 2021 – Thailand’s economy continues to take a heavy toll due to the COVID-19 pandemic and is projected to expand modestly at 2.2 percent in 2021, revised down from the 3.4 percent growth projected in March, according to the World Bank’s latest Thailand Economic Monitor “The Road to Recovery” published today.

(more…)
Continue Reading

Economics

Thailand’s Economy and COVID-19: Five Things to Know

Thailand’s GDP fell by 6.1 percent in 2020, the largest contraction since the Asian financial crisis. The tourism sector, which accounts for about a fifth of GDP and 20 percent of employment, has been especially affected by the cessation of tourist travel.

Published

on

Ko Samed deserted pier

Like many countries, Thailand’s economy was hit hard by the COVID-19 pandemic last year. The country’s GDP fell by over 6 percent in 2020 and many workers, especially those related to the tourism sector, lost their jobs.

(more…)
Continue Reading
Wise

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,163 other subscribers

Recent