Thai retail plays key role in rebound
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Thailand’s retail industry is expected to grow by 5-10 percent this year from THB1.55 trillion (USD47.6 billion) last year as local consumption recovers.
Suwit Kingkaew, a senior vice-president of CP All Plc, operator of the 7-Eleven convenience store chain, yesterday said local consumption was improving, and the momentum was expected to continue throughout 2015.
Retail growth this year will come partly from greater exports to Cambodia, Laos, Myanmar and Vietnam. Last year GDP in those countries grew by 7-8%, while Thai exports to them rose by 14-18%.
Questions & Answers
Q.What is the expected growth rate for Thailand’s retail industry this year?
What is the expected growth rate for Thailand’s retail industry this year?
The retail industry is expected to grow by 5-10 percent this year. This is a recovery from last year's figure of THB1.55 trillion (USD47.6 billion).
Q.Who provided the positive outlook on local consumption and retail growth?
Who provided the positive outlook on local consumption and retail growth?
Suwit Kingkaew, a senior vice-president of CP All Plc, operator of the 7-Eleven convenience store chain, stated that local consumption was improving and the momentum should continue throughout 2015.
Q.What factor, besides local consumption, is expected to contribute to retail growth?
What factor, besides local consumption, is expected to contribute to retail growth?
Greater exports to Cambodia, Laos, Myanmar and Vietnam are expected to contribute. Last year, Thai exports to these countries grew by 14-18%, while their GDP increased by 7-8%.
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