TNSC expects 9% export growth

BANGKOK, Sept 7 (TNA) -- The Thai National Shippers’ Council has revised its export growth prediction from 8% to 9% this year on the promising conditions of major markets. TNSC president Ghayapad Tantipipatpong said the council expected export value from August to December to be at US$22.2 billion a month on average and that would result in the 9% growth rate for the whole year. She said that the economies of major markets with high potential were growing well along with the global economic condition and that would benefit Thailand’s exports of industrial, electronics, information technology and automotive products. Meanwhile, the trade dispute between the United States and China would allow Thailand to increase its export of farm products and seafood to the US, Miss Ghayapad said. Regarding risk factors, she mentioned the appreciation of baht which grew the second highest after Korea’s won and the quick depreciation of currencies in emerging markets. She also said that exports in July amounted to US$20.42 billion and rose by 8.3% year-on-year. It increased for the 17th consecutive month. Exports grew well for products sold to Japan, the European Union, India and Southeast Asia. Meanwhile, exports to the US fell by 1.9% and those to the Middle East dropped by 9.4%. The decline continued for the fourth consecutive month, Mr Ghayapad said. (TNA)