Thai electronic exports forecast to grow 4.1% amid slowdown this year
Siam Commercial Bank (SCB) projects exports of Thai electronic products will rise by a modest 4.1 per cent this year from the US$4.22 billion earned in 2021.
SCB’s Economic Intelligence Centre (EIC) said export growth for electronic products this year has slowed from the 16.5 per cent increase seen in 2021.
It explained that 2021 export growth was driven by demand for electronic parts and computer parts in response to work-from-home and online education trends.
The EIC said demand for electronic parts from Thailand was still high but exports would be hampered by the global economic slowdown and semiconductor shortage.
It added that Thai washing machines had been removed from the European Union’s Generalised Scheme of Preferences (GSP). This, along with other trade controls imposed by some countries, had added to the slowdown in exports of Thai electrical products, it said.
