Thailand’s export growth lowest in 4 years

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thai portThailand’s exports this year are projected to grow by just 1.31 per cent to $232.24 billion, the lowest growth in four years due to sluggish condition in global trade.

However, it is expected to recover by 4 to 7.9 per cent growth in 2014 to a range between $241.5 billion to $250.56 billion with the expected recovery in the global economy, particularly in the European Union and the US, according to a study by the University of the Thai Chamber of Commerce.

This year’s forecast was much lower than the Commerce Ministry’s target of 4 per cent expansion this year. Aat Pisanwanich, Director of the university’s International Trade Studies Center, said that if Thailand is to achieve four per cent export growth this year, the average shipment in October and November must surge beyond 15 per cent or worth $22.08 billion a month, which is very difficult to achieve.

In the first nine months of 2013, Thai shipment grew only 0.05 per cent to $172.13 billion, he said, adding that the government and the private sector should look beyond 2013 as the orders for goods have already been placed by importers.

“There’s a need to draw up a plan to promote exports next year, as many countries are expecting economic growth recovery, especially the EU countries and ASEAN markets,” he added.

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Reading Time: 1 minute

Thailand’s exports this year are projected to grow by just 1.31 per cent to $232.24 billion, the lowest growth in four years due to sluggish condition in global trade.

Reading Time: 1 minute

thai portThailand’s exports this year are projected to grow by just 1.31 per cent to $232.24 billion, the lowest growth in four years due to sluggish condition in global trade.

However, it is expected to recover by 4 to 7.9 per cent growth in 2014 to a range between $241.5 billion to $250.56 billion with the expected recovery in the global economy, particularly in the European Union and the US, according to a study by the University of the Thai Chamber of Commerce.

This year’s forecast was much lower than the Commerce Ministry’s target of 4 per cent expansion this year. Aat Pisanwanich, Director of the university’s International Trade Studies Center, said that if Thailand is to achieve four per cent export growth this year, the average shipment in October and November must surge beyond 15 per cent or worth $22.08 billion a month, which is very difficult to achieve.

In the first nine months of 2013, Thai shipment grew only 0.05 per cent to $172.13 billion, he said, adding that the government and the private sector should look beyond 2013 as the orders for goods have already been placed by importers.

“There’s a need to draw up a plan to promote exports next year, as many countries are expecting economic growth recovery, especially the EU countries and ASEAN markets,” he added.

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