InfoQuest (July 30, 2019) -- Dr Aat Pisanwanich, director of Center for International Trade Studies (CITS) of University of the Thai Chamber of Commerce (UTCC), said that total Thai exports this year are estimated to reach 251.338 billion U.S. dollars, 0.64 percent less than last year and the first contraction in four years.
"To maintain export growth, the value of Thai exports in the remainder of this year must increase at least 2.9 percent per month, that is 21.664 billion U.S. dollars monthly," Dr Aat said.
The CITS director attributed the risk factors to a slowing global economy, a prolonged China-U.S. trade war, a stronger Thai Baht currency, a reduction of interest rate by the Federal Reserve, an oil price fluctuation in international market, and a decline in China's imports (including imports from Thailand).
"Given the global economic slowdown this year, the World Bank, the Organization for Economic Co-operation and Development (OECD) and the International Monetary Fund (IMF) have all revised their global growth forecasts for 2019. The hit of the global economic slowdown and China-U.S. trade war on trade is expected to last for two years until 2020 and 2021," said Dr Aat.
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