Private Sectors Predicts Slowdown in Export Growth

[snoop1130]

 

BANGKOK (NNT) - A private-sector-led committee forecasts a slowdown in Thailand’s exports for the rest of this year due to global uncertainties.

 

The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) stated that despite steady export growth during the first four months of 2022, factors such as the Russia-Ukraine conflict, rising oil prices, inflation rates, and food shortages will likely slow down Thailand’s exports for the rest of the year.

 

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The JSCCIB, on the other hand, expressed optimism as it maintained its economic forecast for 2022, predicting Thai economic growth of 2.5-4%, inflation of 3.5-5.5%, and export growth of 3-5%. The committee stated that Thailand’s tourism industry will play a critical role in driving GDP growth following the country’s reopening to international tourists. It expects around 6-8 million tourists to visit Thailand in 2022.

 

In addition, the Ministry of Finance is expected to maintain its inflation rate prediction at around an average of 5% for 2022. Sources said that factors such as the global oil price have remained stable while Thailand’s inflation rate is lower than that of many countries. The government’s intervention to prevent prices and fuel from rising too high from time to time also plays a part in private and public agencies maintaining an optimistic outlook for the Thai economy.

 

-- © Copyright NNT 2022-06-03

 

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[Mavideol]

12 minutes ago, snoop1130 said:

A private-sector-led committee forecasts a slowdown in Thailand’s exports for the rest of this year due to global uncertainties.

maybe global uncertainties but sure the appreciated Baht is a negative influence as well

[RichardColeman]

13 hours ago, snoop1130 said:

predicting Thai economic growth of 2.5-4%, inflation of 3.5-5.5%, and export growth of 3-5%. The committee stated that Thailand’s tourism industry will play a critical role in driving GDP growth following the country’s reopening to international tourists. It expects around 6-8 million tourists to visit Thailand in 2022

If Thai economic growth is predicted at 2.5 to 4% based on 6-8 million tourists, with the currently lunacy and yoyo'ing never ending, reality is likely to be at least half that - 1.25-2.5% at the most.

[hotchilli]

15 hours ago, snoop1130 said:

Thailand’s tourism industry will play a critical role in driving GDP growth following the country’s reopening to international tourists.

Ohhh dear.. no happy ending for Thailand this year.

[Excel]

2 minutes ago, hotchilli said:

Ohhh dear.. no happy ending for Thailand this year.

Not so sure about that as most of the Thai government members visit Thong Lor entertainment venues anyway to discuss under the table issues ????

[hotchilli]

9 minutes ago, Excel said:

Not so sure about that as most of the Thai government members visit Thong Lor entertainment venues anyway to discuss under the table issues ????

As they had a knock-back on their private club. ????

[zzaa09]

Of course.

Private sector. ????

 

 

A private sector that is highly controlled, regulated and operated by government bodies.     

[worgeordie]

You would think Thailand would find a high demand

for their rice , with wheat been in short supply, but

African countries are having high inflation ,the value

of their currencies lot lower , a report on BBC , last

year fertilizer 500 Baht a sack , now 1500 a sack  ,

one way or another rice prices are going to rise.

 

regards worgeordie