Thai shippers’ council expects rebound in export market this year
A weaker baht and improvement in many countries’ production index will boost the Thai export market, the Thai National Shippers’ Council (TNSC) reckoned.
TNSC chairman Chaichan Charoensuk said on Tuesday that Thai export value in February should hit US$22 billion (760.34 billion baht), especially since the baht has weakened to about 34-35 to the dollar.
Thailand’s export in January was 4.5% less at $20.24 billion (705.45 billion baht) due to an 11% contraction in the Chinese market and a delay in orders for electronic goods.
“The export situation in January may have been the lowest point this year,” he said, adding that gradual improvements may be seen later in the year. He expects the export market to rise to $292 billion (10.09 trillion baht) or 2% year on year.
However, he warned that there are still risks from economic recession, a slowdown in production, volatility in fuel and electricity prices as well as inflation.
He also advised government agencies to expand cooperation with trade partners to mitigate dollar volatility, maintain interest rates and fuel tariffs at an appropriate level, and accelerate free trade agreement negotiations.
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