do foresee that this business will pick-up in Q4 and next year, even if the sector in general remains under stress, as our new pioneering flux product gains traction replacing imported alternative

competitive landscape remains challenging. We saw particular weakness in the steel sector as uncertainty led to reduced production and after a record sugar season in 2018 this sector has been behind our

3.7% in the second quarter higher than 3.3% in the previous quarter. This was mainly from the acceleration of exports, goods, and services in line with the pick up of the trading partner economy and the

last year. The reduction was mainly in the pick-up truck segment caused by limited availability of retail financings for car buyers due to financial institutions’ tightening lending practice especially

been mainly driven by improvements in tourism and industries related to the export sector. In contrast, provinces that rely on agriculture have not yet seen a clear pick-up, despite higher agricultural

downturn in the goods-producing sector intensified, while agricultural output continued to fall amid a lingering drought. Consequently, annual private consumption growth moderated, while business and

sector the Thai economy continues to outperform with Q2 growth at 4.6% slightly below Q1 but remaining strong. Private consumption growth was robust in July and August, supported by higher consumer

economy has been pressured from number of factors, namely 1.) Tourism sector was shrinking from travel restriction measures to control the pandemic resulting in lower both local and foreign tourists 2

by rising credit costs. These tighter lending conditions significantly affected domestic car sales, particularly in the pick-up truck segment, which traditionally relies heavily on availability of

Thai Tourism Sector in 2023-2024 The Thai tourism sector is expected to continue to recover from 11.2 million tourists in 2022 to 27.1 million in 2023 and forecasts 36.6 million in 2024. During June 2023