Export target lowered to 7-7.5%
- Published: 22/05/2013 at 11:56 AM
- Online news:
The Ministry of Commerce has lowered its export growth target for 2013 to 7-7.5% from the previous projection of 8-9% on the back of the baht’s continuing strength, Commerce Minister Boonsong Teriyapirom said on Wednesday.
Mr Boonsong said the adjustment was made after a meeting of the ministry’s commercial attaches and directors of international trade offices in 62 countries.
The officials reported that the baht’s persistent appreciation had caused a reduction in orders for Thai products.
It was possible the strong baht would also affect exports in the second half of the year, particularly jewellery and ornaments, processed agricultural products and frozen food, he said.
As there was no sign the baht would drop in value soon, the ministry had lowered its export growth target for the year, based on the currency remaining around 29 baht to the US dollar.
The minister said his ministry would closely monitor the situation, review its export promotion plan and come up with needed assistance for affected exporters.
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