Thai exports to the US are forecast to contract by 9.2% this year

14 Sept 01:51 Key points summarised by AI

Thai exports to the US are projected to contract by 9.2% this year, equating to a $28.5 billion fall and marking a decade low.
This significant decline is primarily driven by the severe economic impact of the COVID-19 pandemic in the US and the removal of GSP privileges for some Thai products.
Reduced US consumer spending on non-essential items will heavily affect 60% of Thai exports, including luxury goods, automobiles, and electrical appliances.
While exports of medical and work-from-home products are expected to rise, their increased value will not offset the overall decrease in other product segments.
The loss of GSP status, despite its smaller value, will diminish the competitiveness of specific Thai products like ceramics and footwear in the US market.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.