BANGKOK, Nov 30 (TNA) — The Thai-Chinese Chamber of Commerce predicts the Thai economy will expand by 2.5-3.5% early next year following suit the Chinese economic growth.
Narongsak Putthapornmongkol, president of the Thai-Chinese Chamber of Commerce, said the chamber of commerce conducted an opinion survey on directors of about 60 Thai-Chinese business associations and found that 61.5% of respondents believed that the Thai economy would grow in accordance with the economic recovery of China that effectively controlled COVID-19.
Mr Narongsak said Chinese investors and tourists would be returning to Thailand and supporting Thai economic recovery in the first quarter of next year.
The expectation went along with the prediction of the International Monetary Fund that next year the world economy would expand by 5.2%, the Chinese economy would grow by 8.2% and the Thai economy would do by 4.0%, he said.
The Thai-Chinese Chamber of Commerce anticipated that the Thai economy would expand by 2.5-3.5% in the first quarter of next year in commerce, electronic, farm, logistic, health service and processed farm product sectors. They would be the engines that would drive the Thai economy, Mr Narongsak said.
The Thai economy would take about six months to significantly recover despite the successful development of a COVID-19 vaccine, he said.
The value of Thai-Chinese trade in the first 10 months of 2020 amounted to US$64.76 billion, forming 17.89% of the total trade value of Thailand. Thai exports to China were estimated at US$24.54 billion, up by 2.7%, accounting for 12.76% of Thai exports. (TNA)