CIMB Thai Bank (CIMBT) predicts exports will contract 1% next year, suffering from a global slowdown and fears of a recession in key global economies.
Advanced economies including the US and the eurozone will slow in 2023 and there are concerns about a recession, while China should remain in the doldrums as it maintains its zero-Covid policy, said the bank's chief economist Amonthep Chawla.
Higher external risk factors would dampen export growth for next year, with the bank forecasting a 1% contraction, compared with estimated growth of 7.1% in 2022, said Mr Amonthep.
