Continuing contraction in Thailand’s exports a major challenge for new government – KRC

[webfact]

 

Thailand’s continuing export contraction, now in its seventh consecutive month, with April down by 7.6% year on year, will pose a real challenge for the new government, according to a forecast by the Kasikorn Research Centre (KRC).

 

The centre attributed the slide to the global economic slowdown, putting pressure on purchasing by Thailand’s major customers, including the United States, Japan and the Euro Zone.

 

The centre did point to a positive sign for Thai exports to China, which are expanding by about 23% year on year, due to the economic recovery in China after ten months of contraction.

 

The KRC noted there are other negative factors, such as geopolitical conflicts, currency fluctuations and unfavourable climate conditions, which may continue to dampen sentiment. The centre predicted that overall Thai exports for this year will shrink by 1.2%.

 

Full story: https://www.thaipbsworld.com/continuing-contraction-in-thailands-exports-a-major-challenge-for-new-government-krc/

 

-- © Copyright Thai PBS 2023-06-01

 

- 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.

 

The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information.

[hotchilli]

4 hours ago, webfact said:

The centre did point to a positive sign for Thai exports to China, which are expanding by about 23% year on year, due to the economic recovery in China after ten months of contraction.

Durians must be doing well?

[jacko45k]

1 hour ago, hotchilli said:

Durians must be doing well?

 

[ozz1]

Why not just lower the baht a little surely that will help exports

[jacko45k]

Just now, ozz1 said:

Why not just lower the baht a little surely that will help exports

You make it sound like it is on a fishing line. 

Action that would weaken baht are also likely to be negative on the Thai economy....