Thai exports to Myanmar shrink by 1.3%, losing 9.6 billion

Published 2021년 5월 27일

Tridge summary

The University of the Thai Chamber of Commerce has forecasted a significant negative impact on Thailand's exports to Myanmar following the revolution led by Senior General Min Aung Hlaing, with an expected decline in Myanmar's GDP of between -10% and -20% in 2021. This could result in a decrease in Thai exports to Myanmar by -51.6% to -82.2%, valued between 60,670 to 96,590 million baht, contributing to a total export value drop for Thailand of -0.8% to -1.3%. The most significant decline in exports is expected from China, with other ASEAN countries, including Thailand, also seeing a decrease. Myanmar's expected reduction in Foreign Direct Investment (FDI) in 2021, particularly in the energy sector and real estate industry, may lead to businesses relocating to other countries such as Vietnam, Indonesia, Cambodia, Lao PDR, Malaysia, and Thailand.

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Original content

The University of the Thai Chamber of Commerce reveals 100 days after "Min Aung Lai" revolutionized Myanmar's GDP in the year 64, negative 10%, fearing dragging Thai exports, shrinking 1.3% and losing 9.6 billion. On May 27, 2021, Assoc. Prof. Atpisanwanich, Director of the Center for International Trade Studies. The University of the Thai Chamber of Commerce revealed that the impact of the revolution in Myanmar 100 days after the fourth revolution by Senior General Min Aung Lai (MIN AUNG HLAING) expects the GDP in Myanmar in 2021 to be - 10% to -20% In the first quarter of 2021, Myanmar contracted -2.5%, lost FDI $ 6 billion, there were 6 hundred thousand unemployed people, 3.4 million people without food, and the Kyat depreciated by 18% (24/5/2021). ) And Myanmar's household income dropped 83%, oil prices increased 15%, retail rice prices increased by 35% and bottled palm oil prices increased by 20%, and Myanmar companies that stopped operating were 83% of Myanmar companies. ...

Source: Prachachat