Economics
Thailand’s export to contract by 7% in 2020
Thailand’s exports could shrink as much as 7% in 2020 showing its worst performance in a decade, or 3.7% if the Covid-19 crisis is contained before September.
The Bank of Thailand and the Center for International Trade Studies at the University of the Thai Chamber of Commerce (UTCC) forecast exports to contract by 7-8 percent this year.
The Center for International Trade Studies at the University of the Thai Chamber of Commerce said that under the worst-case scenario in which the coronavirus crisis exceeds nine months (beyond September), exports could contract by as much as 7.1% in 2020.
Thailand’s export value contracted by 2.7 percent to 246.25 billion USD in 2019 but the COVID-19 pandemic could remove 17.42 billion USD from Thai export value this year, showing the sector’s worst performance in a decade.
However, if the crisis is contained in September, the downturn could be limited to -3.7%.
The Trade Policy and Strategy Office (TPSO) has indicated that the gross value of Thai exports in 2019 was 246.244 billion U.S. dollars, showing a 2.65 percent decline from the previous year due to the U.S.-China trade war and the strong Thai baht.
UN outlines path to sustainable recovery in Southeast Asia
Tackling inequality, bridging the digital divide, greening the economy, and upholding human rights and good governance will be critical for...
Creating Long Term Growth in Thailand Post- Covid-19
Key mechanisms to position Thailand as the premier destination for investment include regulatory predictability and transparency as well as competitive...
Thailand’s COVID-19 response: an example of resilience and solidarity
Gita Sabharwal, the UN Resident Coordinator in Thailand, explains COVID-19 response success in the country thanks to a combination of...
Thailand’s GDP to shrink from 9.4 to 11.4 percent
The Thai Chamber of Commerce (UTCC) has predicted that the Thai GDP this year will shrink between 9.4 to 11.4...
Covid-19: Thailand reports 10 weeks without local transmission
According to the Centre for Covid-19 Situation Administration (CCSA), Thailand has recorded zero new locally-contracted cases for 10 weeks.
Thai economy improved in June says Bank of Thailand
In June 2020, the Thai economy improved from the previous month due to the gradual relaxation of lockdown measures both...
