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The National Economic and Social Development Board (NESDB) said that the export growth in January of 13.6% was just an illusion. It is expected that the first quarter will grow by 7-8% from the acceleration of exports to the United States. While the second quarter is difficult to assess, it is still a ticking time bomb for Thai exporters because they do not know the exact requirements of Trump 2.0. It is recommended to adjust, find a supporting market, and urge the government to negotiate FTAs and take advantage of RCEP.
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Mr. Chaichan Charoensuk, Chairman of the Thai rcs data malaysia National Shippers’ Council (TNSC), revealed that exports in January were worth 25,277 million dollars, expanding by 13.6%, which is considered good, but exporters are not very happy because when considering the exports of agricultural and agro-industrial products, which are Thailand’s main products, in January they expanded by only 0.1%, although not much, it is significant. The products that supported the high growth of exports in January were electronic components, expanding by 17%, and electrical appliances by 10%. Both of these products were rushed to export to the United States since the end of the year to avoid the US tariffs.
The export figures in January are just an illusion because the global economy and the Thai economy are not as strong as they appear. The manufacturing sector has not recovered, as seen from the manufacturing index which has recovered slightly, such as China and Vietnam. Some countries whose manufacturing indexes have continued to expand are the result of increased exports to the United States before the tax measures were implemented. Oil prices tend to decrease due to lower demand. Freight rates tend to decrease, which leads to lower exports.
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