Thailand's exports are expected to rise by 8% in the first quarter from a year earlier, up from 5% previously forecast, due to pre-confirmed orders, the Thai National Shippers' Council said on Friday.
While exports should continue to grow 5% in 2022, the broader impacts of an escalation of the conflict between Russia and Ukraine could cut export orders by between US$4 billion and $5 billion in the second quarter, the council said in a statement.
Shipments that could be affected include cars and car parts, rubber products and electrical appliances, it said.
According to the Commerce Ministry, exports, a key driver of Thai growth, rose about 17% last year, with shipments to Russia worth $1 billion, or 0.38% of the total. Exports to Ukraine accounted for 0.05%.