Thailand’s export growth forecast at 8 - 9 percent in 2018
The Thai National Shippers’ Council has forecast export growth this year at between 8 and 9 percent, after June exports grew in almost every market and there was a smaller-than-expected impact from recent trade barriers.
Rice sacks at a factory in Bangkok, Thailand (Photo: AFP/VNA)
Bangkok (NNT/VNA) - The ThaiNational Shippers’ Council (TNSC) has forecast export growth this year atbetween 8 and 9 percent, after June exports grew in almost every market andthere was a smaller-than-expected impact from recent trade barriers.
Exports in June extended a 16-month growth streak to over 21.7 billion USD, an8.2 percent increase from the same month last year. Growth was reported inalmost all markets, including Europe, Japan, China, India, the CLMV cluster ofneighbouring countries and the US market, which saw record expansion. The onlyexception was the Middle East, where exports reported a third month ofcontraction due to political unrest.
Nonetheless, the TNSC advised that riskfactors include US trade barriers, exchange rate volatility, conflicts in theMiddle East that could send oil prices higher, as well as the current price slumpin certain agricultural products, such as rubber.
The council suggests that Thailand seekalternatives to markets affected by the current trade dispute, leveragebenefits under existing free trade agreements and seek new partnerships. Italso called for greater use of local currencies for trading, in order to reducedependency on the US dollar.-NNT/VNA
The Thai National Shippers’ Council (TNSC) believes the export sector could have expanded by no less than 10 percent in 2017 and forecast a 5.5 percent growth in 2018.
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Rice sacks at a factory in Bangkok, Thailand (Photo: AFP/VNA) 
