Thailand's export growth forecast up to 2-3.5% in 2017

BANGKOK, May 3 (TNA) - The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has adjusted its forecast on Thailand's export growth rate in 2017 to 2-3.5 per cent, from 1-3 per cent projected earlier. Pridi Daochai, President of the Thai Bankers Association, told journalists of the upward forecast on May 2, boosted by the global economic recovery faster than expected. Pridi explained that the faster global economic recovery cushioned Thailand's export and economic growth in the first quarter of this year more than expected amid a low inflation pressure due to a drop in global oil prices. Pridi said a continual growth is foreseen for Thai exports throughout the rest of this year, particularly those of electronic, rubber, chemical and plastic products, as well as automobiles and parts. The Thai Bankers Association's president cautioned, however, that there are remaining risk factors for Thailand's export and economic growth in the second half of this year, including a changing trade policy of the United States and a, probably, new trend of the Thai baht. JSCCIB comprises of three main Thai private business institutions, including the Board of Trade of Thailand, the Federation of Thai Industries and the Thai Bankers Association. (TNA)