CITS forecasts Thai wholesale and retail markets to grow by one percent
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The Center for International Trade Studies (CITS) has predicted that the wholesale and retail markets in Indonesia and the Philippines will score the highest growths among the ASEAN countries in 2020.
Indonesia and Vietnam will have higher growth rates than all other countries due to a relatively large number of foreign investments and an increased income per head, the center forecast.
Meanwhile, Thailand’s wholesale and retail markets are expected to grow by just one percent this year and 10 percent in the next five years, according to CITS. However, that will largely depend on the people’s incomes and domestic consumption. Thailand’s modern-day trading is expected to grow while traditional retail trading will be gradually closed down like in other countries.
Questions & Answers
Q.Which ASEAN countries are predicted to see the highest growth in their wholesale and retail markets in 2020?
Which ASEAN countries are predicted to see the highest growth in their wholesale and retail markets in 2020?
The Center for International Trade Studies (CITS) predicts Indonesia and the Philippines will have the highest growth among ASEAN countries this year.
Q.What factors are expected to contribute to Indonesia and Vietnam's higher growth rates?
What factors are expected to contribute to Indonesia and Vietnam's higher growth rates?
Indonesia and Vietnam are forecast to experience higher growth rates due to a significant volume of foreign investments and an increase in income per head.
Q.What is the long-term growth projection for Thailand's wholesale and retail markets?
What is the long-term growth projection for Thailand's wholesale and retail markets?
Thailand's wholesale and retail markets are expected to grow by 10 percent over the next five years, though this depends on income and domestic consumption.
Q.What trend is anticipated for traditional retail trading in Thailand?
What trend is anticipated for traditional retail trading in Thailand?
Traditional retail trading in Thailand is expected to gradually close down, mirroring trends seen in other countries, while modern trading grows.
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