Connect with us
Thailand Business Directory

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. 

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

IMF inches up Thailand’s GDP forecast from -7.7% to -7.1%

The International Monetary Fund’s (IMF) has revised up Thailand’s economic outlook to a 7.1 percent contraction, from a 7.7 percent decline, due to the government’s measures to support the business sector.

Avatar

Published

on

Photo : Stephen Jaffe/IMF
Photo : Stephen Jaffe/IMF

The International Monetary Fund (IMF) has adjusted Thailand’s GDP growth forecast, from -7.7% to  -7.1% for 2020.

(more…)

Continue Reading

Banking

Bank of Thailand: five big challenges in resolving the economic crisis

According to the Bank of Thailand, financial stability of the country is sound while external stability remains strong, with low and manageable levels of public debt, and a flexible labor market.

Boris Sullivan

Published

on

Mr. Sethaput Suthiwartnarueput, Governor of the Bank of Thailand (BOT) revealed in his first meeting with the press, that the public health crisis brought about by COVID-19 has severely impacted global economic activities, including Thailand.

(more…)

Continue Reading

Economics

Thailand approves 30K baht tax deduction to stimulate domestic spending

The campaign offers taxpayers income tax deductions of up to 30,000 baht when purchasing products and services with a value-added tax (VAT) component, but excludes alcoholic beverages, tobacco, lottery tickets, fuel, accommodation and air tickets.

National News Bureau of Thailand

Published

on

Pantip Plaza Electronic display

BANGKOK (NNT) – A meeting of cabinet ministers has approved the Shop Dee Mee Kuen campaign, aimed at stimulating domestic spending, taking effect from October 23rd to December 31st this year.

(more…)

Continue Reading

Cart

Most Viewed

Events Calendar

« October 2020 » loading...
M T W T F S S
28
29
30
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
1
Thu 29

Vend ASEAN(Bangkok)Vending Machine & Self-service Facilities Expo 2020

October 28 @ 8:00 am - October 30 @ 5:00 pm BMT
Thu 29

Vend ASEAN 2020

October 28 @ 10:00 am - October 30 @ 6:00 pm BMT

Subscribe via Email

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

Join 13,071 other subscribers

Latest

Trending