Banking

The semiconductor industry is dealing with supply and demand imbalances due to increased demand and disruptions in the manufacturing supply chain. Countries are prioritizing securing chip manufacturing, and Thailand’s semiconductor industry holds potential for advancement. Companies need to collaborate, seek joint ventures, invest in research and development, and promote workforce skills development.

Thai exports increased for the second consecutive month, with the value reaching USD 25,476.3 million in September 2023. The growth is attributed to rising gold exports, improved economic conditions in China, and increased oil-related export product prices. Despite this, the overall trade balance for the first three quarters of 2023 remains at a deficit. The ongoing Israeli war may impact the global economy and indirectly affect Thai exports. SCB EIC expects export values to weaken by -1.5% in 2023 but return to growth in 2024 at 3.5%.