Thai economy ends gloomy year with slim prospects for cheer in 2020

A tuk tuk waiting for tourist passengers is parked outside a commercial center decorated with Christmas lights in Bangkok. South-East Asia's second-largest economy faces headwinds from global trade tensions, a surging baht and rising political risks and tourism may suffer a big hit in 2020. - AFP

BANGKOK: Thailand is set to end 2019 at the weakest pace of growth in five years and little to cheer about next year, as South-East Asia's second-largest economy faces headwinds from global trade tensions, a surging baht and rising political risks.

The export-reliant country has been sharply hit by the Sino-US trade conflict. Exports may fall 3.3% in 2019 before rising just 0.5% in 2020, according to the Bank of Thailand (BOT).