BANGKOK – A forecast by the University of the Thai Chamber of Commerce (UTCC) says exports would expand 218,000 dollars or 2% this year, the first positive growth in four years.
The projection was compiled by the Center for International Trade Studies of the UTCC. The Center has linked the sector’s recovery to the global economic recovery, which is predicted to grow 3.6% by the International Monetary Fund (IMF).
The Center’s Director, Aat Pisanwanich, explained that Thai exports could rely on markets in the United States and the CLMV region, provided that global economic growth follows the IMF’s prediction.
World Bank had earlier forecast that India’s economic growth would expand 7.5% for 2015-2016, the highest rate in the world.
Mr. Aat said this year, the exports would face difficulties, such as insurgency across the world, China’s economic slump, tougher competition, poor agricultural prices, and the EU stance on illegal fishing in Thailand.
