Connect with us

China

Thai exports growth forecast drops to 1% due to trade war

This year’s export growth has been reduced to 1% from 3% earlier forecast due to the U.S.-China trade war and a world economic slowdown

National News Bureau of Thailand

Published

on

Thailand’s export sector has raised concerns due to a trade war between the United States and China, which has been attributed to a decline in the volume of export cargoes by mercantile ships from this country.

This year’s export growth has been reduced to 1% from 3% earlier forecast. New export markets are being sought and exporters will hold talk with the Ministry of Commerce shortly.

Kanyaphak Tantiphiphatphong, president of the Thai National Shippers Council, said Thailand’s export sector made a combined 18.5 billion dollars in April, accounting for a 2.6% drop from the same period last year.

That was due to the U.S.-China trade war and a world economic slowdown. Thai exports to the Chinese markets have largely dropped for four consecutive months since January.

The Thai National Shippers Council has readjusted this year’s export growth to 1%, compared to 3% earlier forecast. That is obviously lower than the Ministry of Commerce’s projected growth. Though the Thai goods export to China has dropped, that to the U.S. has risen, following an increase in the U.S. import tariffs for Chinese goods.

Thailand was seeking new export markets such as secondary Chinese provinces and India. The Thai National Shippers Council has planned to hold talk on export promotion measures with the Ministry of Commerce.

National News Bureau Of Thailand

Continue Reading
Advertisement
Comments

China

Why Foreign Firms Struggle to Break Into China

In 2017, an analysis by Goldman Sachs found that while S&P 500 companies earned 30 percent of their revenues outside of the United States, China accounted for only 1 percent of their revenues.

Avatar

Published

on

For growth-starved Western entrepreneurs, the Chinese market is appealing. Think about it: Since 1995, China’s economy has grown by a factor of 18.5, from US$735 billion to US$13.6 trillion (excluding Hong Kong).

(more…)

Continue Reading

China

How China is using tourists to realise its geopolitical goals

Over the last two decades, the number of Chinese overseas travellers rose by over 25 times from 5.3 million in 1997 to 130 million in 2017, contributing an estimated US$250 billion to overseas economies

East Asia Forum

Published

on

Decades of astonishing economic growth have given China new tools for extending its influence abroad and achieving its political goals. Some of these tools are inducements, including Belt and Road Initiative projects and new development financial institutions.

(more…)

Continue Reading

Banking

How China’s role in global finance has changed radically

Within the space of just 15 years, China has gone from being the largest net lender to the world to now being a net borrower. The implications for the global economy, and China’s role within that economy, could be significant.

East Asia Forum

Published

on

‘If you owe the bank $1 million, you have a problem. But if you owe the bank $1 trillion, then the bank has a problem’. It’s an old gag, but it underscores an important point: the size of your borrowing or lending can have profound implications for your role in the world.

(more…)

Continue Reading

Most Read

Upcoming Events

Tue 10

21st World conference pharmaceutical chemistry and drug design

December 9 @ 8:00 am - December 10 @ 5:00 pm BMT
DUBAI,UAE
Dubai
Jan 23

12th World Congress on Alzheimers Disease & Dementia

January 23, 2020 @ 9:00 am - January 24, 2020 @ 5:00 pm BMT
Feb 12

Future Energy Asia

February 12, 2020 - February 14, 2020
BITEC
Bangkok
Feb 19

13th World Congress on Nursing and Health Care

February 19, 2020 @ 9:00 am - February 20, 2020 @ 5:00 pm BMT
Phuket
Phuket city
Mar 11

Food science conferences

March 11, 2020 @ 8:00 am - March 12, 2020 @ 5:00 pm BMT

Press Release

Subscribe via Email

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

Join 11,908 other subscribers

Trending