Thailand's gross domestic product (GDP) growth for the industrial sector is expected to dip to a range of 1.5% to 2.5% this year if the baht averages 28 to the US dollar for all of 2013, says the Industry Ministry.
Ministry spokesman Nattapon Nattasomboon said a 9.9% gain in the baht will cause a drop of 3.6% in industrial GDP.
Previously, the Industrial Economics Office forecast 5-6% growth in industrial GDP based on an exchange rate of 30.58 baht to the dollar, valuing industrial GDP at 4.78 trillion baht. The baht averaged 31.08 in 2012.
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