The Thai National Shippers’ Council (TNSC) has said Thailand’s exports are expected to rise by 8% in the first quarter from a year earlier, up from the 5% previously forecast, due to pre-confirmed orders.
According to a statement by the group, exports should continue to grow 5% this year, though the broader impacts of an escalation in the conflict between Russia and Ukraine could cut export orders by between $4 billion and $5 billion in the second quarter.
It also said shipments that could be affected include cars and car parts, rubber products and electrical appliances.
Last year, exports – a key driver of Thai growth – rose about 17%, with shipments to Russia worth $1 billion or 0.38% of the total. Data from the Ministry of Commerce indicated that exports to Ukraine accounted for 0.05%. (NNT)
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