Thailand’s exports expected to drop 0.64% y/y in 2019
Thailand’s exports are expected to decline by 0.64% on an annual basis to USD 251.338 billion for 2019, Thai Economic News Service reported referring to an estimate provided by The University of the Thai Chamber of Commerce. This will be their first contraction in four years.
On the other hand, Thailand’s outbound shipments for the second half of this year are expected to expand by 1.6% to USD 128.367 billion. The boost will be supported mainly by the government's stimulus measures.
Yet, Bangkok’s exports in the next months will be challenged by a number of factors, including the escalating trade war between the USA and China, Brexit, a stronger Baht as well as a possible minimum wage increase, Thai Economic News Service noted.Original source: Thai Economic News Service