TNSC: Thai GDP may grow less than 4% in 2013

BANGKOK, August 122 (TNA) - The Thai National Shippers' Council (TNSC) fears that the Thai economy might grow by less than 4 percent in 2013 due to less-than-expected export. TNSC Chairman Nopporn Thepsitthar said Thailand’s gross domestic product (GDP) may grow by less than 4 percent this year if the Thai annual export expands by less than 3 percent. Nopporn said the growth of Thailand’s export, which accounts for as much as 60 percent of the country’s GDP, has recently eased due to due to the slowdown of the world economy and the economic problems of Thailand’s trading partners. The value of Thai exports dropped by 3.38 percent to US$19.098 billion in June, for the second consecutive month. To achieve the target growth of 4-4.5 percent this year, Nopporn said the government must speed up its infrastructure investment and promote tourism. He said the government must also try to achieve the 3 percent export growth target this year. “The value of Thai export must be at US$20.4 billion monthly in the remaining period of this year for the country to achieve its export growth target,’ he said. At present, the export value stands at US$18.9 billion monthly. Nopporn said Thailand’s export is expected increase in the third quarter, which is the export peak season and urged the government to increase exports to ASEAN member countries, China and the United States in the second half of this year. (TNA)