FW: RHB | Thailand | August Exports Jump On North Asian Demand

 

 

 

 

Economic Research			25 September 2017
Thailand
Economic Update
August Exports Jump On North Asian Demand   Thailand’s exports soared 13.2% YoY in August (July: +10.5%) on the back of a steady increase in industrial shipments. Meanwhile, agricultural exports eased somewhat, but remained robust. Excluding non-monetary gold, exports grew 10.3% YoY in August, moderating from a 15% rise in the month before. Going forward, we raise our forecast for exports to grow 7.5% this year from +5.3% previously and compared to just +0.5% last year. This is as growth momentum continues to stay strong into 3Q. This was on the back of steady global growth. In addition, the recent spate of hurricanes and earthquakes occurring in the North American region is likely to lead to a bump in replacement demand for damaged vehicles.   Economist:  Ng Kee Chou  | +603 9280 2179
To access our recent reports please click on the links below:   5 September: Money Supply Sees Uptick In July 5 September: August CPI Picked Up On Higher Energy Cost 5 September: July MPI Rebounded On Automotive, F&B Gains 22 August: Softer E&E Shipments Weigh On July Exports 22 August: Private Investment Returns, GDP Fastest In Four Years 17 August: Interest Rate Unchanged Despite Strong THB 10 August: Examining Thailand’s Changing Consumption Patterns
Economic Team
Peck Boon Soon	Chief ASEAN Economics	bspeck@rhbgroup.com		+603 9280 2163
Vincent Loo	Malaysia, Vietnam	vincent.loo@rhbgroup.com		+603 9280 2172
Ng Kee Chou	Singapore, Thailand	ng.kee.chou@rhbgroup.com		+603 9280 2179
Rizki Fajar	Indonesia, Philippines	rizki.fajar@rhbgroup.com		+6221 2970 7065
Aris Nazman Maslan	Malaysia, Vietnam	mohd.aris.nazman@rhbgroup.com		+603 9280 2184

 

 

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