Thailand export growth projection at just 2%

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Thailand_Export_Treemap
Thailand’s export treemap

Thailand’s exports will grow a meagre 2 per cent this year, a report by Singapore’s DBS bank said.

According to DBS, Thailand’s total export growth is likely to stand at even below 2 per cent year-on-year in 2013. This pales in comparison to the 8-10 per cent official projection at the start of the year.

The forecast is in line with a projection by the University of the Thai Chamber of Commerce (UTCC). Its  International Trade Studies Center director, Ath Pisalvanich, said that he did not believe the official forecast by the Thai government of that the annual export growth would reach 4 per cent given an average expansion of only 1 per cent in the first eight months of 2013.

Exports in the final quarter will improve, thanks to more purchase orders and a better economic situation in the US, but Thailand must be cautious on capital volatility which could have an impact on the currency exchange rate, he said.

However, Deputy Prime Minister and Commerce Minister Niwatthamrong Boonsongpaisarn stands firm that the country’s exports would increase by 4 per cent after positive economic signals from the US and the expanded exports of Thai products in Southeast Asian region in the last few years. The Commerce Ministry has predicted an export growth even higher than 4 per cent next year in light of strengthened economies in the US, Europe and China.

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[caption id="attachment_16978" align="alignleft" width="300"] Thailand's export treemap[/caption] Thailand's exports will grow a meagre 2 per cent this year, a report by Singapore's DBS bank said. According to DBS, Thailand's total export growth is likely to stand at even below 2 per cent year-on-year in 2013. This pales in comparison to the 8-10 per cent official projection at the start of the year. The forecast is in line with a projection by the University of the Thai Chamber of Commerce (UTCC). Its  International Trade Studies Center director, Ath Pisalvanich, said that he did not believe the official forecast by the Thai government of that...

Reading Time: 1 minute

Thailand_Export_Treemap
Thailand’s export treemap

Thailand’s exports will grow a meagre 2 per cent this year, a report by Singapore’s DBS bank said.

According to DBS, Thailand’s total export growth is likely to stand at even below 2 per cent year-on-year in 2013. This pales in comparison to the 8-10 per cent official projection at the start of the year.

The forecast is in line with a projection by the University of the Thai Chamber of Commerce (UTCC). Its  International Trade Studies Center director, Ath Pisalvanich, said that he did not believe the official forecast by the Thai government of that the annual export growth would reach 4 per cent given an average expansion of only 1 per cent in the first eight months of 2013.

Exports in the final quarter will improve, thanks to more purchase orders and a better economic situation in the US, but Thailand must be cautious on capital volatility which could have an impact on the currency exchange rate, he said.

However, Deputy Prime Minister and Commerce Minister Niwatthamrong Boonsongpaisarn stands firm that the country’s exports would increase by 4 per cent after positive economic signals from the US and the expanded exports of Thai products in Southeast Asian region in the last few years. The Commerce Ministry has predicted an export growth even higher than 4 per cent next year in light of strengthened economies in the US, Europe and China.

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