Exporters remain pessimistic about their prospects despite the government's prediction of slight growth this year.
Nopporn Thepsithar, president of the Thai National Shippers' Council (TNSC), said yesterday that based on the performance of the first 10 months, the TNSC sees little chance of export growth.
"We're still maintaining our forecast of between zero growth and a 0.8% contraction for the full year," he said. "In the best-case scenario, exports could manage a contraction of about 0.5% if shipments fetch an average of US$17.5 billion a month for the quarter."
In any case, exports will slump for a fourth straight year in 2016, he said.
The Commerce Ministry reported on Monday that exports fell 4.2% year-on-year in October to $17.78 billion after growth of 3.4% year-on-year in September and 6.5% in August.
Officials blamed easing demand from major markets and weaker shipments of gold and oil-related products.
The ministry said exports of agricultural and agribusiness products slipped back into contraction after gains in September, falling 8.1% from October last year to $2.63 billion due to lower shipments of sugar, rice, tapioca products and rubber.
Exports of industrial products fell for the first time in three months, down 2.7% at $14.15 billion, led by finished oil, computers, gold, cars and auto products, steel and TV sets.
In October, imports were 6.5% higher from the previous year at $17.53 billion, producing a trade surplus of $248 million.
For the first 10 months of 2016, exports totalled $178.25 billion, down 1% year-on-year, with imports shrinking 5.9% to $160 billion.
The TNSC predicts exports will recover to growth of 0-1% next year.
"Exports still face a host of risk factors, including uncertain global economic prospects, volatile foreign exchange and commodity prices and new US trade policies by President-elect Donald Trump that focus more on domestic development and protectionism," Mr Nopporn said.
He warned that while exports are comparatively better than those of other countries, and the private sector continues to make quality products, the country's manufacturing sector still faces mounting challenges from neighbouring countries.
He proposed that Thailand accelerate trade talks under the Free Trade Area of the Asia-Pacific and the Regional Comprehensive Economic Partnership framework in a bid to expand export markets together with continuing stimulus measures to boost trade, investment and development.
Mr Nopporn also suggested Thailand develop international trade-related procedures to comply with the Trade Facilitation Agreement of the World Trade Organization.