The country's top business group said on Tuesday it expects the economy to grow 4.3-4.8% this year, up from its earlier prediction of 4.0-4.5%, as any impact of global trade protectionism on Thai exports should be limited this year.
The group also increased its export growth estimate to 7-10% this year from 5-8% seen earlier, the Federation of Thai Industries, the Thai Bankers' Association and the Board of Trade of Thailand said in a statement.
"A trade war between the United States and China may have some impact on Thailand, but not much this year, as global economic growth continues to support Thai shipments," it said.
Separately, a group of Thai shippers maintained its 2018 export growth estimate at 8% this year, although it said the US-China trade dispute remains a risk.
Exports, a key driver of the country’s growth, jumped 11.55% in the January-May period from a year earlier, after rising about 10% in the whole of 2017.
The economy expanded 3.9% last year, the best growth in five years.