The Department of International Trade Promotion says exports in Thailand will gradually expand in 2021. The prediction has been made based on the economic recuperation worldwide and also the availability of the Covid-19 vaccine.
The director-general Mr.Somdet Susomboon, added to this that the exports will be a growth by 4% by 2021’s end and will be in tune with the projections made by other private sector and public agencies.
So, what could possibly the contributing factors, here?
The recovering world economy being one, the International Monetary Fund estimated that the world’s economy will expand to 5.2% in this year from a contraction recorded 4.4% in 2020.
The developing countries, including India and six other nations of ASEAN, are likely to recover the fastest. In fact, the World Trade Organization predicts 7.2% economic expansion in 2021, globally.
Besides, delivery of Covid-19 vaccines should improve the condition overall and prompt more consumption while stimulating the economy in nations as well as hike in imports/orders from various trade partners.
However, exports related to food, work from home equipment, home entertainment, and hygiene products will continue growing.
So lately, if you have been thinking to invest in the export sector of Thailand, this could be the time for you. For any legal assistance, contact us.
