Thai economy faces challenges in second half

[snoop1130]

Thai economy faces challenges in second half

By THE NATION

 

 

Thailand will face several challenges in the second half of the year, especially impacts from the escalating US-China trade, according to The Joint Standing Committee on Commerce, Industry, and Banking.

 

These factors, coupled with the volatile US dollar value, have added pressure to the already-slowing global economy, which will not facilitate recovery of Thailand’s exports in the second half of the year.

 

Thai economic indicators in the first half showed weak signals in both export and domestic consumption, it added.

 

Due to this gloomy outlook, Thailand needs to boost its domestic consumption, especially short-term measures from the government to alleviate the drought and to regain private sector confidence.

 

The joint committee said it would keep a closer watch on the situation but it has maintained GDP growth forecast this year in the range of 2.9 to 3.3 per cent.

 

It has also maintained its export growth forecast this year at between minus 1 per cent and 1 per cent growth.

 

Thailand’s GDP expanded 4.1 per cent last year, while exports grew 6.9 per cent.

 

Source: https://www.nationthailand.com/business/30374407

 

-- © Copyright The Nation Thailand 2019-08-07

Follow Thaivisa on LINE for breaking Thailand news and visa info

[rodknock]

well i guess we will see some dog and pony shows to tell us that the economy is not bad because i say so!!

i tell them to fix it and nothing happens except resignations.

 

[Justgrazing]

19 minutes ago, snoop1130 said:

These factors, coupled with the volatile US dollar value, have added pressure to the already-slowing global economy, which will not facilitate recovery of Thailand’s exports in the second half of the year.

Just waiting for a counter narrative saying everything is cool and Thailand will soon be an economic powerhouse in the region .. 

[jvs]

18 minutes ago, snoop1130 said:

Due to this gloomy outlook, Thailand needs to boost its domestic consumption,

Most Thai people i know are already up to their necks in debt,spend more?

Easy to say for those who have enough already!!

[Tilacme]

The Yen is being devalued, the Dollar is being diluted as are many other currencies. Thai have good gold reserves to bolster the high Baht, but find that they cant sell anything. 1st world govs are playing the deflation card and it will cost Thailand.

[mok199]

Sounds like its time for a high speed bullet train announcement...

[ratcatcher]

1 hour ago, snoop1130 said:

Due to this gloomy outlook,

That gloomy outlook isn't producing the rain that's sorely needed countrywide. If there is no rain in quantity, Thailand will have massive problems come December after the rainy seasoin has ended and the dams are way too low.

[geoffbezoz]

20 minutes ago, mok199 said:

Sounds like its time for a high speed bullet train announcement...

Just a high speed bullet in the right direction would be a good start perhaps

[Cadbury]

2 hours ago, snoop1130 said:

It has also maintained its export growth forecast this year at between minus 1 per cent and 1 per cent growth.

That is being optimistic given the drought effect on rice production. Plus automobile manufacturers concern over the high baht minimising exports. The economic future looks bleak for Thailand. 

Never mind, the economic mastery of the country has been taken over by PM Prayut himself.

Good luck with that!

[garyk]

I cannot wait to see how this plays out. I have insulated myself from Thailand. But, interesting to watch.

[RichardColeman]

18 hours ago, snoop1130 said:

which will not facilitate recovery of Thailand’s exports in the second half of the year.

 

It has also maintained its export growth forecast this year at between minus 1 per cent and 1 per cent growth.

I could be wrong, but didn't they say export a while ago that Thai exports were already negative ? If there is no recovery, then -1% is highly optimistic