Thailand to Deepen Trade Cooperation with East Africa

By / SSTV / Updated: 11:17,08-August-2022

Thailand recently stated that it plans to expand exports of its goods and services to Africa. Its offices in Nairobi and other cities intend to promote food, auto parts, chemicals, medicines and medical devices in Kenya, Tanzania, Uganda, Ethiopia and Congo. According to Thai officials, East Africa can bring huge business opportunities to Thailand. The copper, gemstones, tea and coffee are raw materials that Thai enterprises can purchase.

Philippine Factory Activity Slows in July

The Manufacturing Purchasing Managers' Index (PMI) of the Philippines fell to 50.8 in July from 53.8 in June, hitting the lowest level since January, as output and new orders dropped. Experts in the Philippines said that as inflationary conditions worsen, most companies raised prices to cope with rising costs, which has led to less consumer spending. 

Indonesia's GDP Growth Accelerates in Q2, Beats Forecast 

Data released by Indonesia's Central Bureau of Statistics recently showed that Indonesia's gross domestic product (GDP) in the second quarter grew by 5.44% year-on-year, higher than forecast and growth speed in the first quarter, driven by strong exports and solid domestic consumption. Data show that compared with the same period last year, household consumption, which accounts for more than half of Indonesia's GDP, increased by 5.51% in the second quarter, fixed asset investment by 3.07%, and exports by 19.74%. Indonesia's export industry continues to recover, and household consumption is robust, but slowing global economic growth may affect Indonesia's export growth prospects.

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