THAILAND’S trade ended 2020 on a strong note, with economists expecting the export recovery to help extend the country’s recovery in 2021.
In December, both exports and imports returned to year-on-year growth for the first time since the Covid-19 pandemic began, up 4.7 per cent and 3.6 per cent respectively.
The performance reflects both improving global demand and a domestic recovery, said Barclays economists Brian Tan and Shreya Sodhani.
“The manufacturing and export recovery will help offset the weakness in tourism as borders will remain closed during the first half of the year,” said Maybank Kim Eng analysts Lee Ju Ye and Chua Hak Bin, who maintained their 2021 gross domestic product (GDP) growth forecast at 5 per cent.
In December, core manufactured exports – excluding precious stones and jewellery – grew 7.6 per cent, driven by double-digit growth in exports of electrical…
