webfact Posted September 1, 2022 Share Posted September 1, 2022 by Tanakorn Sangiam BANGKOK (NNT) - The Thai-Chinese Chamber of Commerce (Thai CC) expressed its view that Thailand’s economy will be able to grow by 3.3% this year. This would be due to exports and an improved tourism scene. Meanwhile, it cautioned that the global economy and conflicts between superpowers need to be monitored. Thai CC President Narongsak Putthapornmongkol revealed the results of a confidence survey by his organization. The survey of 305 business leaders’ confidence for the 4th quarter of 2022 found that respondents believe the economy will expand by 3.3% this year. Factors cited as hindrances to the Thai economy’s revival include the global economic slowdown, inflation, and domestic political stability. Other factors cited include household debt, economic crises faced by some trading partners, and conflicts between global superpowers. Mr. Narongsak noted survey respondents deem China to still be a reliable export market for Thailand. Thailand-China trade expanded by 7.34% in the first 7 months of this year. However, Thai exports to China declined by 2.62%. Prominent exports to China include computers and parts, plastics, rubber products, cassava, para rubber as well as fresh, chilled, and frozen fruit. The chamber president expressed his view that Thai exports to China, especially farm exports and agriculture industry products, can grow much further. He said freight costs are on the decline, the baht has weakened and China’s relaxation of Covid curbs is resulting in more demand for food. He said, however, that the private sector needs to monitor the global economic situation and the Chinese economy, as well as the conflicts between superpowers. Mr. Narongsak also expressed concern over the domestic political situation. He said interruptions that cause any delays to the APEC summit or make it unviable for APEC leaders to participate would impact Thailand’s credibility. Source: https://thainews.prd.go.th/en/news/detail/TCATG220901113408081 -- © Copyright NNT 2022-09-01 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more! 1 Link to comment Share on other sites More sharing options...
ozz1 Posted September 1, 2022 Share Posted September 1, 2022 Have they got that crystal ball out again or are they listening to tat or are they on anatuns good stuff predictions are very hard in this climate at the moment but they know better 1 Link to comment Share on other sites More sharing options...
tomacht8 Posted September 1, 2022 Share Posted September 1, 2022 After the word "believes" I stopped reading. 1 Link to comment Share on other sites More sharing options...
2baht Posted September 1, 2022 Share Posted September 1, 2022 3 hours ago, webfact said: The Thai-Chinese Chamber of Commerce 3 hours ago, webfact said: conflicts between superpowers need to be monitored. So, the Chinese will be monitoring themselves? Link to comment Share on other sites More sharing options...
Cake Monster Posted September 1, 2022 Share Posted September 1, 2022 4 hours ago, webfact said: The chamber president expressed his view that Thai exports to China, especially farm exports and agriculture industry products, can grow much further. He said freight costs are on the decline, the baht has weakened and China’s relaxation of Covid curbs is resulting in more demand for food. This will only add fuel to the prices paid in Thailand for the Farm produce. Link to comment Share on other sites More sharing options...
mikebell Posted September 2, 2022 Share Posted September 2, 2022 20 hours ago, webfact said: respondents believe the economy will expand by 3.3% this year. It might for these Chinese respondents but not for the Thai poor. Link to comment Share on other sites More sharing options...
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