Thailand’s exports are expected to record between a 0.5% drop and a 1% rise this year, unchanged from a previous forecast, the Thai National Shippers’ Council said on Tuesday.
Slowing global production has affected demand for exporters, council chairman Chaichan Chareonsuk told a briefing.
However, exports should be helped by shipments of some agricultural products and automobiles in the remaining five months, he said.
As well, India’s ban on a large portion of its rice exports should offer Thailand, the world’s second-largest rice exporter, a good opportunity to sell rice at higher prices, said vice-chairman Suparp Suwanpimolkul.
The council expects rice exports of 8.5 million tonnes this year, compared with about 7.9 million tonnes last year.
In the first half of 2023, the US dollar value of the country’s exports contracted 5.4% from a year earlier, having fallen year-on-year for nine months in a row, customs data showed..