Connect with us

Economy

Coronavirus could cause huge damage to ASEAN economies

Jack Burton

Published

 on 

The Covid-19 coronavirus is expected to cause damage valued at US$2.4-3.4 billion (74.6-105.7 billion baht) to ASEAN economies, according to estimates from the Kasikorn Research Centre. The jolt will likely result from a virus-related economic slowdown in China, which has close trade ties with ASEAN nations as well as investment and tourism, the centre reports.

If the outbreak can be contained within 6 months, Chinese economic growth could be at 4.7% this year, or 1% lower than predictions. That would cut ASEAN’s economic value by 74.6-105.7 billion baht, or 0.07-0.11% of ASEAN’s yearly gross domestic product.

Damage to Thailand would be “moderate,” at 15.5-21.8 billion baht, or 0.09-0.13% of annual GDP, the research centre wrote. The economies of Vietnam, Singapore, Laos and Cambodia are highly dependent on China, while Thailand’s dependence is moderate, according to the report.

Meanwhile, the number of coronavirus infections in Thailand has risen to 33 after a Chinese woman aged 54 tested positive, the Department of Disease Control said at a press conference.

As of today, the number of confirmed virus patients in Thailand under hospital care is 23, most of whom are beginning to recover, according to local media. Ten patients who have completely recovered from the virus have been discharged.

SOURCE: Chiang Rai Times

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Jack Burton is an American writer, broadcaster, linguist and journalist who has lived in Asia since 1987. A native of the state of Georgia, he attended the The University of Georgia's Henry Grady School of Journalism, which hands out journalism's prestigious Peabody Awards. His works have appeared in The China Post, The South China Morning Post, The International Herald Tribune and many magazines throughout Asia and the world. He is fluent in Mandarin and has appeared on television and radio for decades in Taiwan, Mainland China, Hong Kong and Macau.

Follow Thaiger by email:

Koh Samui1 min ago

Koh Samui unaccustomed to Covid-19, many act in dismay

Thailand2 hours ago

Bangkok Airways extends flight suspension to August 11

Thailand3 hours ago

7 Jomtien Beach curfew breakers arrested

Sponsored1 day ago

Experience Phuket’s Islands with 5 Star Marine

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Thailand3 hours ago

Buri Ram pig stable converted into gambling den: 22 arrests follow

Thailand4 hours ago

“Fake news” banned, Thai media say order infringes on freedoms

Phuket5 hours ago

Precarious Phuket: open internationally, closed domestically

image
Join the conversation on the Thaiger Talk forums today!
Best of5 hours ago

Top 5 tattoo parlours Bangkok

World5 hours ago

Duterte approves lockdown measures for Manila

Best of5 hours ago

The Best Pizza in Bangkok with Delivery

Thailand5 hours ago

Thailand News Today | worker camp woes, ‘fake news’ crackdown | July 30

Best of5 hours ago

Best Premium Hotel Buffets in Bangkok

Coronavirus (Covid-19)6 hours ago

CCSA considers extending restrictions in “dark red” zones for another 14 days

Thailand6 hours ago

Fake dead bodies used in Phuket protest, police plan real investigation

Best of6 hours ago

Top 5 adventure tours in Chiang Mai

Best of6 hours ago

Top 5 affordable hotels in Chiang Mai

Thailand5 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism5 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket5 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism5 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand5 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism5 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand6 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand6 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand6 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand7 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand7 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand7 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand7 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand7 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand7 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending