Connect with us

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.

Boris Sullivan

Published

on

UTCC: Thai export sector to be affected by US-China trade war

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. 

Loading...

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.

Comments

Economics

EEC Expects 300-billion-baht Investment This Year

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – Thailand expects investment to triple to at least 300 billion baht in the Eastern Economic Corridor (EEC) this year as investment projects previously held by the coronavirus outbreak get pushed forward again as the pandemic eases.

Loading...
(more…)

Continue Reading

Economics

Finance Ministry Seeks More Fund for Co-payment Scheme

Fiscal Policy Office (FPO) Director-General Kulaya Tantitemit said the number of registrants exceeded the target of 31 million and could tally more than 32 million.

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – Thailand’s Finance Ministry is preparing to seek the Cabinet’s approval for additional funding for the Rao Chana (We Win) scheme following the better than expected number of registrants.

Loading...
(more…)

Continue Reading

Economics

New Business Registration Tops Highest since January 2019

The top three sectors for new business registrations in January were building and construction (634), real estate (299) and transport and logistics (192).

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – New business registration topped 7,283 in January, the highest since January 2019, driven by the promise of Covid-19 inoculations and upbeat sentiment on the country’s economic outlook.

Loading...
(more…)

Continue Reading

Latest

Most Viewed

Subscribe via Email

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

Join 13,634 other subscribers

Trending