from the slow economic growth of trading partners, the protectionist trade policies between the US and China and the down-cycle of electronic products. In the tourism sector, the number of tourist

Environment 1 1.1 Global and Thai Economy in 2019 and Outlook for 2020 1 1.2 Banking Industry, Competition and Emerging Risks 2 1.3 Significant Regulations and Rules related to Business Operations 5 2. Risk

sector, exports value for 2018 expanded 6.7% from the same period last year. In the tourism sector, the number of tourist arrivals for 2018 totaled 38.3 million, growth of 7.9% from the same period last

slightly declined from the high base of last year. For export sector, exports value remained stable for Q418 from the same period last year due to the high base effect of last year and also from the trade

household debt including lower household income especially in the non-farm sector limiting household consumptions. Meanwhile, in the auto industry, the total number of car sales for the first eight months of

debt including lower household income especially in the non-farm sector limiting household consumptions. Meanwhile, in the auto industry, the total number of car sales for the first 9 months of 2019

than exports value, with value of imports contracted by 4.7% yoy consistent with the subdued domestic economic conditions. In the tourism sector, the number of tourist arrivals for 2019 continued to

the COVID-19 outbreak. In the tourism sector, the number of tourist arrivals for 1Q20 contracted by 38.0% yoy across almost all nationalities with high contractions in the number of Chinese tourists

of exports declined by 5.4% mainly from the slow economic growth of trading partners including the shutdown measures imposed by several countries with the COVID-19 outbreak. In the tourism sector, the

economy continued to expand during 2Q17 and for the first half of 2017 with growth contributed from the following 3 sectors: 1) Export sector continued to expand with growth for the first five months of