Connect with us

Trade

Slowing global economy pressures Thai exports

The resurgence of rising trade dispute between the US and China has heightened the tensions in the global trade atmosphere and added risks to Thai export sector in the remainder of 2019.

Kasikorn Research Center

Published

on

Thai exports in February were valued at US$19.03 billion, a growth of 0.91 per cent compared to the same period last year.

 Slowing global economy pressures Thai exports in April 2019 to contract for a second consecutive month.

Loading...

The outbound shipment of Thai goods in April 2019 totaled USD18,555.6 million, declining 2.57 percent YoY.  Consequently, Thai exports in the first four months of 2019 dropped 1.86 percent YoY, a further decline from the first quarter.

The contraction is attributed to slowing economic growth of key trading partners especially China and the European Union.

High base effect, due to front loading of electronic products and a sharp increase in prices of rice and tapioca in the world market in April 2018 have contributed to the lackluster export performance.

Thai exports will continue to face several challenges in 2019

Thai exports in the remaining eight months of 2019 continue to face several challenges, namely, lower-than-expected global economic growth,  fluctuations in the world’s oil prices, cyclical downtrend of electronic goods, the possibility of Thailand’s inclusion in the US’ monitoring list of currency manipulation.

Additionally, the resurgence of rising trade dispute between the US and China has heightened the tensions in the global trade atmosphere and added risks to Thai export sector in the remainder of 2019.

Due to abovementioned factors, it will be a challenging task to maintain 2019 Thai export growth at 3.2 percent because the total value of Thai outbound shipments in the remaining eight months must reach USD22,500 million per month, which is higher an average monthly export value in the first four months of this year of USD20,136 million. 

KResearch therefore is revising our export forecasts in 2019. Based on our preliminary estimates, the export growth for the whole 2019 will slip below our initial projections of 2.5-3.5 percent.

Slowing global economy…. pressures Thai exports in April 2019 to contract 2.6%, while export growth in 2019 may drop below KR original forecast of 2.5-3.5% (Business Brief No.3802) – KASIKORN RESEARCH CENTER

Comments

Economics

Cross-border trade is expected to grow up to 3-6%

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – Thailand’s cross-border trade is expected to recover to growth of 3-6% this year, helped by COVID-19 vaccine distribution and the global economic recovery.

Foreign Trade Department Director-General Keerati Rushchano said cross-border trade, which includes transit trade, is likely to generate 1.36 to 1.40 trillion baht, up from 1.31 trillion baht in 2020.

According to Mr Keerati, the key risk factor that may derail border trade growth is the political chaos in Myanmar that will weaken purchasing power there and cause a delay in goods transport.

Source link

Continue Reading

Tourism

Thai government may subsidise an unlimited domestic air pass

The government looks to offer a subsidy for an unlimited travel pass to people who buy domestic air tickets in advance to help struggling airlines in Thailand.

National News Bureau of Thailand

Published

on

BANGKOK (NNT) – The government looks to offer a subsidy for an unlimited travel pass to people who buy domestic air tickets in advance to help struggling airlines in Thailand.

(more…)
Continue Reading

Asean

Canada, Indonesia Trade Talks Begin for Comprehensive Economic Partnership Agreement

The CEPA would benefit Canadian exporters and importers as it will improve access to ASEAN’s largest economy and the world’s fourth most populous country.

Avatar

Published

on

Canada, Indonesia Trade Talks Begin for Comprehensive Economic Partnership Agreement

On January 11, 2021, Canada’s Minister of Small Business, Export Promotion, and International Trade, Mary Ng, announced that the country has launched public consultations on a Comprehensive Economic Partnership Agreement (CEPA) with Indonesia. 

(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