Issue 19
The DITP claims that the Thai economy will benefit from the increase in the US minimum wage, which will boost the purchasing power of 3.2 million American consumers.
According to DITP Director General, Nuntawan Sakuntanaga, the US economy is showing signs of improvement – while export and employment rates have increased, inflation is still low. “Thai exports to USA expanded by 3.3 percent from January to November 2014, a total of US$21,814 million.”
In 2015, the department plans to organise 20 events in Northern America. “We will mainly focus on food products,” said Sakuntanaga. “More than 100 representatives from the Thai private sector will participate in six trade shows and various activities will be conducted with local supermarkets. In addition, business representatives from the US will visit Thailand twice this year.”
The top five Thai exports to the US are computer parts, rubber, jewellery and accessories, TV parts, and canned seafood, while Thailand mainly imports aircrafts, gliders and related equipment, machinery, and circuit boards from the US.
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