BANGKOK, 1 August 2012 – The University of Thai Chamber of Commerce (UTCC) has reported that the European economic crisis will continue to impact the Thai export sector, adding that this year’ export volume will increase by only 5.8%.
UTCC Director of the International Trade center, Att Pisarnvanich, revealed the analysis on the indices that influence Thai export. He said the indices showed clear signs of slowing down from the impacts from other countries, particularly European.
Mr Att speculated that the European economy is likely to contract by 4.5 this year, which will have detrimental impacts over the Thai export sector, forcing it to expand by only 5.8% compared to the previous year’s. The UTCC earlier predicted that the export would increase by up to 13%.
The Director further elaborated that Thai products suffering the heaviest blows from the EU debt crisis are electrical appliances, food, jewelry, textile, and para-rubber.
