Research Reports

Thai Exports to CLMV: Neighbourly Support

CEIC ASEAN Data Talk - September 10, 2015 Thailand is heading for another year of tepid growth amid sluggish private consumption and weak external demand. Trade is integral to Thailand’s open economy, accounting for about 132% of nominal GDPi. Exports are crucial engines of employment and sources of income. At the same time, they are vital sources of government tax revenue and foreign exchange reserves. Exports (including re-exports) account for two thirds of Thailand’s nominal GDP but are on course for a third consecutive year of negative year-on-year growth. A number of factors are weighing down on exports, including economic slowdowns in China and Japan, lacklustre demand from the US and EUii, and an electronics sector that is falling out of sync with the global supply chain amid shifting preferences for high-technology consumer electronics. In the interim, Thailand should capitalise on its geographical location and export more to the CLMV economies (Cambodia, Laos, Myanmar and Vietnam). Exports Remain the Main Contributors to Nominal GDP

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