FLASH
28 February 2020
Thai exports in January 2020 made a positive turnaround due to gold export. Going forward, EIC expects Thai exports will be hit by the COVID-19 impact.
Thailand’s exports figures in January 2020 increased for the first time in six months, by 3.3%YOY (-1.5%YOY excluded golds).
Author: Kampon Adireksombat, Ph.D. , Panundorn Aruneeniramarn, Jirayu Photirat, Phimchanok Hou
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Thailand’s exports figures in January 2020 increased for the first time in six months, by 3.3%YOY (-1.5%YOY excluded golds). The growth was driven mainly by gold, air conditioner, motorbike and semiconductor. Meanwhile, exports of rice, chemicals, plastic beads and auto vehicles remained on a decline.
Thai exports as of January 2020 picked up as anticipated earlier based on the recovering manufacturing PMI of key trade partners. The improvement was due to the easing concern over the US – China trade war which finally reached phase-1 deal.
Nevertheless, in the upcoming term, Thailand’s exports will be affected by the COVID-19 situation which has already slowed down the economies of countries with the COVID-19 cases, influenced a drop of oil price, and caused supply disruptions across markets depending on China. For the year 2020, EIC keeps a forecast for Thai exports at -1.0%YOY.
Thailand’s exports figures in January 2020 increased for the first time in six months, by 3.3%YOY (-1.5%YOY excluded golds). The growth was driven mainly by gold, air conditioner, motorbike and semiconductor. Meanwhile, exports of rice, chemicals, plastic beads and auto vehicles remained on a decline.
Thai exports as of January 2020 picked up as anticipated earlier based on the recovering manufacturing PMI of key trade partners. The improvement was due to the easing concern over the US – China trade war which finally reached phase-1 deal.
Nevertheless, in the upcoming term, Thailand’s exports will be affected by the COVID-19 situation which has already slowed down the economies of countries with the COVID-19 cases, influenced a drop of oil price, and caused supply disruptions across markets depending on China. For the year 2020, EIC keeps a forecast for Thai exports at -1.0%YOY.