Exports are forecast for a deeper contraction of 1.2% this year, attributed to the global economic slowdown and the banking debacle in the US and Europe, according to Kasikorn Research Center (KResearch).
The centre downgraded its export outlook for 2023 from a previous contraction of 0.5%, citing the US economy’s slower growth and the ongoing banking crisis in the US and Europe as major factors.
“A technical recession is possible in the US in the second quarter, while external risks, lower demand from trading partners and falling prices of shipped goods will significantly impact…
