Thread: Conflict in Syria may affect Thai economy

BANGKOK, 16 April 2018 (NNT) - An academic at Thailand's Rangsit University, Anusorn Thamjai, says the US, UK and French air strikes on Syria could drive up crude oil prices to 100 dollars per barrel.

Anusorn said the prices have already reached the highest level in 3 years since the coalition launched its attack on Syria on April 14th. It is also possible that it might lead to a renewed cold war between Russia and western nations.

Economies around the world, including Thailand, may slow down in the 2nd quarter due to the rising energy prices and inflation. Financial markets worldwide are expected to fluctuate in the next two weeks.

The conflict will inevitably affect Thai exports to the Middle East if it continues into the second half of this year.

Meanwhile, Secretary General of the National Security Council, Gen Wallop Rugsanaoh, said the impact of the conflict would be felt globally since powerful nations are involved.

He said Thailand does not support violence and, as a member of the United Nations, will abide by the rule of international law.


National News Bureau Of Thailand | Conflict in Syria may affect Thai economy

Hopefully it means we get a lot more THB for our GBP

What utter tripe.

Thai exports to the Middle East

I'm sure the girls will find another country

Originally Posted by cyrille

What utter tripe.

Ditto.

There does seem to be some concerns.

Thai Shippers Association vice president Visit Limluecha said although Russia has not yet reacted violently to the Syria bombings, the situation remained to be monitored closely by the private sector as this could have impact on Thai exports, global oil prices and baht currency.
He said although Thailand exported not much to Syria, but if the conflict escalates, Thai exports to the Middle East, such as United Arab Emirates, Saudi Arabia, could be affected, particularly increasing demand for ready-to-eat and dried food.
Chookiat Ophaswongse, honourary president of the Rice Exporters Association, said as Syria is a major importer of Thai 5% rice or about 100,000 tons per year, and the Middle East market holds 20% of total Thai export market or a million ton a year, any escalation of the conflict could hurt Thai rice exports.

Oil prices over the last year.

Originally Posted by Neverna

Oil prices over the last year.

Nice chart but the civil war in Syria started in 2011. The OP is speculative bollocks.

Originally Posted by Norton

Nice chart but the civil war in Syria started in 2011

and thailand has had an influx of long stay syrian tourists since then

There is an over supply in the oil market, I'm frankly surprised oil is currently at circa $70, good for the dividends though.

Originally Posted by Norton

Nice chart but the civil war in Syria started in 2011. The OP is speculative bollocks.

Sure seems to appear that way.
Might have more of an effect on economies that are much more dependent on petroleum-based byproducts and ME regional conflicts in general.
Thailand's not that.

Originally Posted by HuangLao

Sure seems to appear that way.
Might have more of an effect on economies that are much more dependent on petroleum-based byproducts and ME regional conflicts in general.
Thailand's not that.

You got it wrong. Most of the "economies" in Thailand are depending on transportation cost, the trucks going/coming over 1,000 km daily/nightly on their way to economies in North/South. With every few satang more price for nam-man the transport companies like to immediately increase their charge what will snowball on prices of the products, etc.

Unfortunately, when the nam-man price goes down again, they (the transport companies) forget to reduce their charge...

Quite aside from oil prices it could negatively affect the economy if Russia devalues, and more so if China follows suit. Imagine that, fewer Russians and Chinese in Thailand, but that will change when our glorious leaders announce that recent management changes allow for a (legal) casino.

^ and kind reasonable forums, decent as well...

Originally Posted by Klondyke

^ and kind reasonable forums, decent as well...

The Thai/Thai-language forums are quite civilised...