In December 2020, Rubber prices are volatile and down in the line with foreign futures markets due to various factors such as the baht appreciation, the new wave Covid-19 outbreak, low production caused by the impacts of the rains and storms, employee shortage, and a new rubber leaf fall disease called Colletotrichum sp. was reported in 7 provinces, including Narathiwat, Yala, Pattani, Songkhla, Phang Nga, Phatthalung, and Surat Thani. Additionally, Russia has rolled out measures to support using Synthetic rubber in producing tyres. December's average RSS3 price announced by Central Rubber Market in Songkhla stood at 63.80 Baht/kg, down from the previous month.

Thailand’s economy in 2020 is recovering continually; however, it remains high risk and uncertain. According to the outcome of the Monetary Policy Committee’s Decision held on 23 December 2020, the Committee voted unanimously to maintain the policy rate at 0.50% per year, effected immediately. They projected that Thailand’s economy would contract 6.6% in 2020, which was better than previously forecast due to improvement in private consumption and merchandise exports. ; moreover, Thailand’s economy will expand at 3.2% and 4.8% in 2021 and 2022, respectively. Meanwhile, the new wave of Covid-19 pandemic is still concerned. It is expected to be better in the next year, it would depend on the recovery in efficacy and coverage of COVID-19 vaccination; however, it will slowly recover to the normal stage. Therefore, the Covid-19 outbreak must be monitored closely because it is one of the factors which will affect exports. Moreover, the Ministry of Finance projected that Thailand’s economy may contract as much as 7.8% in 2020.

November’s Thailand Industrial Sentiment Index (TISI) is up to 87.4 from 86.0 because the production sector recovers following the recovery of both domestic and foreign demand. Moreover, the government continually rolled out various economic stimulus measures. However, Thailand still confronts container shortage, resulting in an increase of freight rates which affect the export cost of entrepreneurs. Furthermore, Thai baht is strengthening and the new wave of Covid-19 outbreak is still be worried in both Thailand and foreign countries.

In terms of Thailand’s international trade in November 2020, Thailand’s export income value 585,911.03 million baht, down 0.65% yoy, and down 2.40% compared with October 2020. From January to November 2020, Thailand’s export income value 6,575,690.45 million baht, down 6.78% yoy. In terms of trade balance in November 2020, Thailand recorded a trade surplus of 655,383.87 million baht, up from a trade surplus of 189,118.62 million baht in November 2019 (Ministry of Commerce, 2020).

The Institute for Supply Management (ISM) informed that the manufacturing sector’s Purchasing Managers’ Index (PMI) of the US up to 57.1 in December from 56.7 in November 2020. Meanwhile, Thailand’s PMI up to 50.8 in December from 50.4 in November due to the recovery of the business sector, the increase of output and new orders, the stock of raw material, and the delivery date of the raw material supplier.

The U.S. Energy Information Administration (EIA) has announced that the crude oil inventories have decreased 562,000 barrels to 499.5 million barrels for the week ending on 18 December 2020. The global oil demand is still pressed by the new lockdown measure after the new wave of the Covid-19 outbreak, more easily infected, especially in the EU and Africa. West Texas Intermediate (WTI) crude oil and Brent crude oil prices slightly change. On 29 December 2020, West Texas Intermediate (WTI) crude oil and Brent crude oil prices stood at 48.00 and 51.09 USD/barrel, respectively.

In November 2020, Thailand exported 367,830.03 tons of natural rubber (including compound rubber), up 2.5% from the previous month and down 11.61% yoy, generating an export income of 17 billion baht, up 12.16% compared with the past month, up 5.13% yoy. In the tyre sector, in November 2020, Thailand exported 12.29 million units of all tyres, up 7.57% yoy, with an export value of 15 billion baht, up 5.79% YoY.

The amount of Thailand's car production in November 2020 is 172,455 units, up 11.92% yoy and up 15.46% from the previous month, including 75,014 units or 43.50% at export and 97,441 units or 56.50% at domestic sales. Since the trade war and the Covid-19 outbreak occurred, it is the first rising month out of 19 months because trading partner countries loosen their lockdown measures. Thailand’s car production rises for both export and domestic sale by 4.25% and 18.64%, respectively. From January to November 2020, Thai produced 1,283,963 cars, down 31.69%yoy.