|
Economic
Research
|
23
May 2017
|
|
Thailand
|
|
|
Economic Update
|
|
|
Thailand’s
April exports eased to 8.5% YoY. This was undermined by a sharp deceleration
in shipments of E&E and a contraction in vehicle sales. Agricultural
exports also slowed, but only marginally.
Going forward, we
believe that Thai merchandise exports remain on track to grow 2.7% this year
from a flat reading in 2016. This is with:
i. Electronic
ii. Electrical
appliance shipments continuing to be buoyed by the cyclical recovery in China
and strong economic growth in the Cambodia, Laos, Myanmar and Vietnam (CLMV)
countries;
iii. The
auto exports slowdown likely to be less drastic than initially expected –
this is following the reversal of public sector pay cuts in Saudi Arabia;
iv.
Machinery exports being on course to
increase this year as capex improves on firming economic recovery in the US,
higher ASEAN GDP growth and receding risks of an EU breakup;
v. Agricultural
exports are set to expand on the back of higher harvest yields and stronger
rubber demand.
|
|
Tuesday, May 23, 2017
Thai Exports Set To Moderate In 2Q As E&E Slows
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.