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Thai manufactured goods exports growth likely to have sustained strong pace in March, says DBS

Thai manufactured goods exports in the Jan-Feb 2017 period rose 3.9 percent year-on-year and are likely to have sustained the pace in March, according to a DBS research report. The current rate of pace appears to be strong as compared to the -2.2 percent average seen in the past three years. For the Thai economy, it is important to have stronger export growth of manufactured goods as ample of capacity remains in the manufacturing sector. The sector has contributed just 10 percent of GDP growth seen in the past three years.

The sharp rise in export growth seen this year is mainly due to stronger demand. Also, the Bank of Thailand has also helped by resisting excessive currency strength as it continues to talk down the baht to make exports competitive, noted DBS.

But the terms of trade index has dropped since the beginning of 2016 in spite of the baht holding stable on real effective exchange rate basis. Moreover, the data for exports from the region have also been relatively solid in the first quarter of 2017. Exports are expected to grow a decent 6.6 percent in 2017, stated DBS. As exports of services continue to be robust, the overall net exports of goods and services might reach THB 1 billion for the first time ever. Exports’ contribution to the Thai GDP growth is expected to increase that explains the central bank’s recent revision of the GDP growth forecast to the upside.

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Fintech Week Chicago

April 28 21:00 UTC Released

MXFiscal Balance (Pesos)*

Actual

340.61 bln MXN

Forecast

Previous

-1.93 bln MXN

April 28 21:00 UTC Released

CNFiscal Balance (Pesos)*

Actual

340.61 bln MXN

Forecast

Previous

-1.93 bln MXN

April 30 01:00 UTC 563563m

CNNBS Non-Mfg PMI*

Actual

Forecast

Previous

55.10 %

April 30 01:00 UTC 563563m

CNNBS Manufacturing PMI*

Actual

Forecast

51.6 bln $

Previous

51.8 bln $

April 30 23:30 UTC 19131913m

AUAIG Manufacturing Index

Actual

Forecast

Previous

57.5 %

May 1 00:00 UTC 19431943m

KRExport Growth Prelim*

Actual

Forecast

15.3 %

Previous

13.6 %

May 1 00:00 UTC 19431943m

KRImport Growth Prelim*

Actual

Forecast

21.0 %

Previous

27.7 %

May 1 00:00 UTC 19431943m

KRTrade Balance Prelim*

Actual

Forecast

Previous

6.27 bln $

May 1 00:30 UTC 19731973m

USNikkei Mfg PMI

Actual

Forecast

Previous

52.8 %

May 1 00:30 UTC 19731973m

JPNikkei Mfg PMI

Actual

Forecast

Previous

52.8 bln $

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