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The value of Thai exports in June continued to grow at 8.2% yoy, driven by exports of petroleum products such as finished oils And chemicals and plastics 23.5% year-on-year growth and 13.6% year-on-year, respectively. Exports of key industrial products continued to grow, including computers, equipment and components, as well as automobiles, equipment and components. In addition, rubber exports continued to contract by 10.4% year-on-year due to lower world prices, while exports rose 11.0% in the first half of 2018. YOY
The global value of solar panels for export has declined due to exports to the United States. The decline in semiconductor (solar panel) exports fell 21.8% year-over-year, mainly because of the backup tariffs, which led to the export of semiconductor devices to the United States . Contracted 84.6% of the year. Value of Export to the United States Other Products People affected by US tax incentives include washing machines. Dry cleaners and components and steel, steel and products Growth was 4.7% yoy and 24.9% yoy, respectively. The tax rate on Thai exports remains competitive. In addition, the export of these two products grew by 5.0% year-over-year and 21.4% year-on-year, respectively
The value of imports continued to grow. Up 10.8% year-over-year due to increased fuel oil imports, up 49.9% year-over-year. Import a computer Equipment and components Growth was 23.1% yoy, in line with the upward trend in the commodities sector. Imports of capital goods (excluding aircraft and ships) increased 15.2% year-on-year. Imports in the first half of 2018 increased by 15.6% YoY
Implication
EIC expects total exports for 2018 to increase by 8.5% due ;Mondial economy. Growth prospects and rising oil prices, however, Thai exports in the next phase tend to slow down. The slowdown in global industrial production is reflected in the overall index of Manufacturing Purchasing Managers (PMI), which has slowed since the beginning of the year and dropped to a 10-month low of June. There is also a risk of trade wars that must be dealt with in the event of additional measures and countermeasures.
EIC expects a 2018 import growth of 13.5% in line with the demand for raw materials and equipment goods. Which is likely to grow through exports. Domestic and private investment is expected to recover in the near future. EIC estimates that the increase in oil imports this year has contributed to a sharp decline in trade and the balance of payments compared to the previous year. However, the EIC expects the current account surplus in Thailand to remain high at around 8% per annum, reflecting the stability of the economy. [Publier Nouveau] 12th Street – New Lower East Airport
