Shippers' group sees Q1 exports up 5% y/y

Shippers' group sees Q1 exports up 5% y/y

Exports are expected to rise by 5% in the first quarter from a year earlier, helped by a global economic recovery, the Thai National Shippers' Council said on Tuesday.

For 2022, the group maintains its export forecast at a 5% to 8% rise, the group said in a statement. Exports rose 17.1% in 2021.

The group maintains that exports, a key driver of growth, are expected to increase by 5% to 8% this year, after jumping 17.1% in 2021 as global demand returned following a pandemic-induced lull.

Exports had a V-shaped recovery last year and the momentum should continue into 2022, said council chairman Chaichan Chareonsuk.

"I'm confident that every industry has received advance orders, so exports in the first quarter should definitely increase 5%," he told a news conference.

There are risks factors, however, including high fuel prices, a shortage of workers and raw materials, and port congestion, Mr Chaichan said, adding the coronavirus outbreak should be manageable.

Council vice chairman Suparp Suwanpimonkul said if the baht stayed at a range of 33.0 to 33.5 per dollar, it would be a boost to exports this year. 

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