Thailand’s exports are expected to decline by 2020

05-Feb-2020 Intellasia | 05-FEB-2020 Ontellasia | PLEnglish | 6:02 AM Print This Post

Thai exports could suffer a 1.8 percent contraction this year due to the global economic slowdown, widespread drought and the impact of the coronavirus 2019 n-CoV, sources warned here.

According to a report in the Bangkok Post, the vice-president of the Thai Chamber of Commerce, Sanan Angubolkul, confirmed that many trade associations were consulted before a forecast of 242 billion dollars was decided for the value of this year’s exports.

According to the text, the guild estimated that foreign sales of agricultural items will fall by 0.9 percent this year.

Rubber exports are expected to fall by five percent, tapioca products by 15 percent and sugar by 16.3 percent.

Also, industrial sales will fall by two percent to 193 billion dollars, with setbacks particularly for electronics, automobiles and parts, and jewellery and gold, among other items.

Sanan acknowledged that the main contributors of income to the country remain in the crisis, especially those of automobiles and parts, due to lower demand in the global market and Asia.

Thailand’s exports, added the report, fell last year by 2.7 percent year-on-year.

https://www.plenglish.com/index.php?o=rn&id=51770&SEO=thailands-exports-are-expected-to-decline-by-2020

 


Category: Thailand

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