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Thailand's GDP growth rate is low due to US-China trade friction | NHK News

2019-08-19T08:11:02.605Z

The impact of trade friction between the United States and China is spreading even in Thailand in Southeast Asia, where many Japanese companies advance. Thailand's GDP from April to June ...



Thailand's GDP growth rate is at a low level due to US-China trade friction 17:07 on August 19

The impact of trade friction between the United States and China is spreading even in Thailand in Southeast Asia, where many Japanese companies advance. Thailand's GDP growth rate from April to June was 2.3% higher than the same period of the previous year, the lowest level in 4 years and 9 months.

The growth rate of GDP from April to June, announced by the Thai National Economic and Social Development Committee on the 19th, was 2.3% higher than the same period of the previous year in real terms converted to an annual rate. .

The growth rate was 0.5 points lower than the previous three months, the lowest level in four years and nine months since the third quarter of 2014.

This is because exports continue to be sluggish due to trade friction between the US and China, the global economy slowing down, and soaring currencies and baht.

“The Thai economy is facing many challenges, such as trade wars in the US and China, the appreciation of the baht, and consumer anxiety about the economy,” said Tosaporn, Secretary General of the Thai National Economic and Social Development Committee.

Thailand is a cluster of manufacturing industries in Southeast Asia where many Japanese automobile and electrical equipment manufacturers are advancing, but there is a sense of caution about trade friction in the US and China and the slowdown in the global economy, as Japanese companies' views on the economy worsen. Is getting stronger.

Source: nhk

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