THAILAND PAINT SECTOR FACES EXPORT DECLINE BUT INDUSTRY STEADY AS ECONOMY GAINS TRACTION
July 12th, 2023
The Thailand paint and coatings sector is expanding faster than general economic growth in Thailand, expanding sales as the country transitions from military-dominated to democratic rule.
This southeast Asian powerhouse economy is projected to grow GDP by 3.9% in 2023, up from 2.6% last year due to stronger-than-expected export demand from China, Europe, and the United States, according to the World Bank (1).
Thailand's ministry of commerce has maintained a targeted year-on-year growth for exports this year of 1%-2%, after a 5.5% gain in 2022 (2). This comes as ...
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