Thai shippers raise export growth forecast

Thai shippers raise export growth forecast

Council sees trade war opportunities

The Thai National Shippers' Council expects exports to grow 9% this year as global demand remains strong for Thai products. (Photo by Apichart Jinakul)
The Thai National Shippers' Council expects exports to grow 9% this year as global demand remains strong for Thai products. (Photo by Apichart Jinakul)

Exports are expected to grow 9% this year, better than the 8% predicted earlier, as global demand remains strong, the Thai National Shippers' Council (TNSC) said on Thursday.

While global trade disputes are a concern, they should provide Thailand an opportunity to export more to the United States and Chinese markets, TNCS chairwoman Ghanyapad Tantipipatpong told a briefing.

"July's export data was still good news, so this year's 9% growth is quite certain," she said.

Exports, a key driver of Thailand's growth, rose 8.3% in July from a year earlier and 10.57% in January-July.

In 2017, shipments increased 9.9%.

Thai exports should also be boosted by relaxed non-tariff barriers among Southeast Asian countries and some businesses relocating their production base to Thailand, Ms Ghanyapad said.

The strength of the baht, Asia's second-best performer this year, was a risk, she said.

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