The Thai export sector has lost competitiveness in global markets, with the market share of rice shipments falling by more than 50% over the past 20 years, according to the Bank of Thailand (BoT). Long-standing structural impediments in the export and manufacturing sectors are having a more discernible impact on the Thai economy, said the central bank. Thailand's electronics export growth averaged only 4% over the past decade, well below its regional peers such as Vietnam, the Philippines and Malaysia, which posted export growth of 37%, 14% and 10%, respectively. In addition, the MPC said the current loan-to-value (LTV) measures remain appropriate. Some property developers recently asked the Finance Ministry to loosen the LTV measures to increase activity in the sector.
