China trade growth

Shipping containers are seen at a port in Hai Phong city, Vietnam July 12, 2018. Photo by Reuters/Kham. The Trade20 Index recently released by British lender Standard Chartered Bank ranks 20 economies out of the 66 based on 12 metrics across three pillars: economic dynamism, trade readiness and export diversity. The economic dynamism pillar was measured by inward foreign direct investments (FDI), export volume growth and GDP growth. Trade readiness refers to the market’s foundations to support future trade growth, and was measured by factors such as the quality of trade and transport infrastructure and ease of doing business, while export diversity was measured by export count. Vietnam showed the strongest progress in trade growth potential of all Southeast Asian markets, driven by improvements to its trade readiness and economic dynamism. Its improving strength in trade readiness is due to infrastructure enhancements and improvements to its ease of doing business score, … [Read more...] about Vietnam sixth in world’s trade growth potential ranking list: Standard Chartered

Workers manufacture shoes at Phuc Mau Co., Ltd, in the northern province of Thai Binh. Leather and footwear exports are expected to exceed US$22 billion this year A 2019 breakdown of Vietnam’s worldwide exports shows US$18.3 billion from footwear and US$3.75 billion from handbags, wallets, suitcases, hats and umbrellas expected for the whole year. Officials note that the increase in leather exports is largely due to foreign investment from China to Vietnam, as a result of the U.S.-China trade war, along with benefits for Vietnamese exports coming from the free trade agreements it has signed. However, the sector has faced challenges to meet the target. The lack of input materials for the sector has forced Vietnam to make significant expenditures on material imports, hindering the development of local supporting industries and the fulfillment of commitments on product traceability. Moreover, labor productivity in the sector is low. A Vietnamese worker can make three to four … [Read more...] about Vietnam expected to overtake China in leather, footwear exports to US market

The Bank of Thailand feels upbeat about the country's economic growth in Q3. (Photo: bangkokpost.com) Bangkok (VNA) – Thailand’s economic growth in the third quarter is likely to improve from the second quarter’s reading, mainly thanks to positive tourism growth and the government’s economic stimulus measures, according to the Bank of Thailand. Senior Director at the BoT’s macroeconomic and monetary policy department Don Nakornthab said GDP growth in the third quarter is expected to surpass 2.3 percent, which was recorded in the second quarter, and the economic expansion was supported by the government’s stimulus package, growth in the tourism sector and exports. Thailand’s economy grew at the slowest pace in almost five years in the second quarter as exports and tourism deteriorated, buffeted by the US-China trade tensions and the strong Thai baht. GDP rose 2.3 percent from a year ago, down from 2.8 percent in the first quarter, the … [Read more...] about Bank of Thailand upbeat about economic growth in Q3

A corner of Bangkok, Thailand (Photo: thainews.prd.go.th) Bangkok (VNA) – Thailand’s GDP growth forecast for 2020 has been set at 2.5-3 percent by Kasikorn Research Centre (K-Research) as compared to 2.8 percent growth seen this year. According to K-Research, the country needs additional stimulus to meet the upper edge of the estimated range. The 2020 economic outlook will likely suffer from external risk factors, particularly the US-China trade war and further dampening of exports. Amid this gloomy sentiment, the research house predicts Thailand's exports to contract 2 percent next year, said assistant managing director Nattaporn Triratanasirikul, adding fiscal policy should be the key instrument to support economic momentum while global uncertainties remain. Additional stimulus packages would help the economy to grow by 3 percent next year. Otherwise it would be below 3 percent. Otherwise, it would be below 3 percent, she said. Measures should be targeted towards … [Read more...] about K-Research predicts Thailand’s GDP growth at 2.5-3 percent in 2020

The government is maintaining its target for GDP growth of 3 percent this year, according to Kobsak Pootrakool, deputy secretary-general to Prime Minister Prayut Chan-o-cha.(Photo: bangkokpost.com) Bangkok (VNA) – The Thai government is maintaining its target for GDP growth of 3 percent this year, with a series of stimulus measures to boost economic growth. Deputy Secretary-general to Prime Minister Prayut Chan-o-cha for political affairs Kobsak Pootrakool held a sub-committee meeting on October 4 to review economic development. He said the meeting’s assessments of figures in the second quarter and the first two months of the third quarter lead it to believe 3 percent is achievable. The tourism sector will be the main driver of the economy this year, while export is expected to slow down, he said, adding the country will welcome some 20 million foreign arrivals in the second half. During the first eight months of 2019, there were 26.5 million foreign visitors, … [Read more...] about Thai government maintains 3 percent GDP growth target