The global sluggish economy due to the COVID-19 pandemic has started to show a sign of recovery in 2022. Krungthai Compass estimates that the Thai economy will expand by 3.8%, compared to only 1.0% in 2021, and the export sector will expand at 3.9% following the trend of global economy and return of trading partners who start to resume their operations. The increasing prices of oil-related commodities and industrial products have also substantially contributed to the value of Thai exports.
At any rate, the manufacturing sector may still face challenges from supply chain disruptions in the first half of 2022 as a continuation from the previous year. This situation will affect the cost of the upstream and midstream commodities in the production line. Krungthai Compass suggests that the “GROWTH” principle can help contribute to a strong and sustainable business recovery through the G-Green economy concept that focuses on investment in the environment, RO-Re-Opening which focuses on the value addition and sustainability to the tourism industry, W-Work and Workforce which is a new work model that emphasizes flexibility and technology, T-Technology driven which is investment in the new technologies to deliver a breakthrough business advantage, and H-Health which is a trend in healthcare business that will become a big hit after COVID-19.*
*Source: Krungthai Compass
