BANGKOK, Jan 6 — The Thai National Shippers’ Council projects the value of Thai exports should increase by 2.5 per cent this year compared with its 0.2 per cent decline in 2014. The council is concerned about the European Union (EU) move to exclude Thailand from its Generalized System of Preferences (GSP).
Nopporn Thepsitthar, chairman of the Thai National Shippers’ Council, said export growth should result from the economic recovery of trading partners. He thinks that the ASEAN economy will expand by 5.4 per cent – the highest rate among Thailand’s trading partners, with that of the United States by 3.1 per cent and that of the EU by 1.3 per cent.
Concerned about the Thai economic situation in the first half of this year, Mr Nopporn said that the EU will exclude Thailand from its GSP preferences and that would affect the Thai export of farm products, processed farm products and industrial products as 18 items were seeking 87 per cent of GSP privileges worth about US$2.65 billion annually.
Mr Nopporn also warned of the impacts of the ruble depreciation but commented that Thailand might try to sell farm products and fresh foods to Russia as the US and the EU were boycotting it.
Mr Nopporn said that the value of Thai exports dropped by 0.2 per cent in 2014 as the figure last November fell 1 per cent to US$18.57 billion.
In the first 11 months of last year the value of Thai exports dropped by 0.42 per cent year-on-year to US$209.19 billion.
The export value of agricultural and agro-industrial products decreased by 2.8 per cent to US$32.46 billion, including natural rubber and frozen seafood. Export growth covered electronic and electrical products, automobiles, rice and tapioca.
