Illustrative image (Source: Internet) Bangkok (VNA) – Thailand’s exporters are estimated to lose as much as500 billion baht (nearly 17 billion USD) worth of income from the strong bahtthis year, with small-scale entrepreneurs hit the hardest, according to VisitLimlurcha, Vice Chairman of the Thai National Shippers' Council (TNSC).
Exporters have lost about 200 billion baht (about 7 billion USD) worth ofincome from the impact of the strong baht in the first five months of the year,he said.
If the baht still maintains its gain whileresponsible agencies have not come up with any measures to rein in the capitalinflow, we believe Thai exporters, most of which are small and medium-sizedventures, will lose 400-500 billion baht worth of income, the Bangkok Post quoted the TNSC Vice Chairman as saying.
This will eventually affect the capability of many exporters to pay bonuses orextra rewards, as well as overall spending power, he said.
The baht averaged 32.48 to the US dollar in 2018 and is now moving in a rangeof 30.50-30.60.
Meanwhile, acting Commerce Minister Chutima Bunyapraphasarasaid said on July 3 thatthe ministry assigned the International Trade Promotion Department to map outan export stimulus plan for the second half to push for export growth of 3percent as targeted.
Trade promotion agencies should focus more on each region of the world, eachcountry and each city, including secondary cities, she said.
The department should also beef up facilitating and stimulating Thai investmentoverseas, Chutima said.–VNA
Exporters have lost about 200 billion baht (about 7 billion USD) worth ofincome from the impact of the strong baht in the first five months of the year,he said.
If the baht still maintains its gain whileresponsible agencies have not come up with any measures to rein in the capitalinflow, we believe Thai exporters, most of which are small and medium-sizedventures, will lose 400-500 billion baht worth of income, the Bangkok Post quoted the TNSC Vice Chairman as saying.
This will eventually affect the capability of many exporters to pay bonuses orextra rewards, as well as overall spending power, he said.
The baht averaged 32.48 to the US dollar in 2018 and is now moving in a rangeof 30.50-30.60.
Meanwhile, acting Commerce Minister Chutima Bunyapraphasarasaid said on July 3 thatthe ministry assigned the International Trade Promotion Department to map outan export stimulus plan for the second half to push for export growth of 3percent as targeted.
Trade promotion agencies should focus more on each region of the world, eachcountry and each city, including secondary cities, she said.
The department should also beef up facilitating and stimulating Thai investmentoverseas, Chutima said.–VNA
VNA
