Thailand figures still point to weak external demand

Export components have yet to show signs of a turnaround.

DBS Group Research noted:

The trade and industrial production data in recent months still point to weak external demand, the surprise 0.2% YoY export increase in September notwithstanding.

In particular, there was a 98% MoM surge in the jewelry component that skewed exports to the upside. Jewelry exports tend to be volatile and a reversion to trend is to be expected in October.

Aside from vehicles and metal manufacturing, many of the other export components (including agriculture, electronic goods and electrical appliances) have yet to show signs of a turnaround.

Notably, industrial production growth has been in negative territory since July and the import of raw materials has also slid in level terms over the last two months.

Headline export and import growth (due in the coming days) is expected to reach 20.6% YoY and 10.2% YoY respectively in October.

However, this is largely on account of the low base effect due to the flood in 4Q last year. On a sequential basis, we are expecting exports to fall by 2% MoM and imports to increase by 1.5% MoM.

Also Read

Singapore, US celebrate two decades of free trade

Singapore’s employment growth slows in Q1

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit