the year. Foreign purchasing power was greatly contracted by the impact of trade war affecting the sales volume while the falling price of raw materials in global market and intensive competition among
716.37 million (or 30.54 percent of total assets) respectively. The decrease is inventories were mainly following the lower sales and decrease in global material price. 2.1.2 Trade account receivables
half of the year. Against the backdrop of the global trade slowdown and uncertainty over US trade policy, merchandise exports in 2018 expanded by 7.7 percent, down from 9.8 percent growth in 2017
. Overall market environment The Thai economy continued to expand mainly from 2 key drivers relating to external factors, in line with the recovery of the overall global economic conditions (Global
market, where the oil business is in on a downward trajectory following slowing global economy due to the trade war between the US and China. The Dubai crude price in 2019 averaged at 63.51 $/BBL, a
. Given the intensified global trade tension, the October 2018 World Economic Outlook of the International Monetary Fund cut its global economic projection for 2018 and 2019 to 3.7 percent, compared to the
sluggish effecting from Trade War which impacted the global economic sentiment. However, the Thai economy is attributed mainly by number of factors, namely 1.) Growth in Tourism sector particularly in 2H19 2
global economy grew at a decelerating rate in 2019 amid uncertainty surrounding the US- China trade rift and concerns about Brexit which lingered throughout the year. The World Economic Outlook of the
support of investment and private spending as well as bolstering opportunities for other economic sectors. Nonetheless, protectionism triggered by the US-China trade dispute dealt a blow to global economic