21.7 C
Brunei
Sunday, December 4, 2022
21.7 C
Brunei
Sunday, December 4, 2022
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    Bankers warn US, Europe economic slowdown may tame Thailand’s roaring exports

    THE NATION – Economists from two leading banks warned on Thursday that the economic slowdown in the United States, the United Kingdom and the European Union may put a damper on Thailand’s hot exports.

    The economists, from Kasikorn Research Centre and TTB Analytics Forecast Centre, were commenting on the country’s export performance in September, which beat expectations.

    The Commerce Ministry had reported that September’s exports worth USD24.91 billion expanded by 7.8 per cent, growing for the 19th consecutive month.

    The ministry said that during the first nine months of the year, exports valued at USD221.3 billion grew by 10.6 per cent.

    Kasikorn Research Centre managing director Chao Kengchon said export growth for September was earlier predicted at only four to five per cent, but a much higher growth was recorded.

    Chao said the impressive performance was attributed to an easing in inadequate supplies of semiconductors, allowing manufacturers of motorcycles and vehicles to resume production for export.

    The easing semiconductor shortage also allowed factories that make computer parts to resume manufacturing for export, he added.

    Besides, the weakening baht had made Thai goods more competitive, Chao said.

    During the first nine months of the year, exports valued at USD221.3 billion grew by 10.6 per cent. PHOTO: THE STAR
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