BANGKOK, 16 March 2011 (NNT) – The Center for International Trade Studies (CITS) of the University of Thai Chamber of Commerce has estimated that Thai exports would shrink by 0.3-0.7% worth about 735 million to 1.470 billion US dollars following the catastrophe in Japan.
According to CITS Director Aat Pisanwanich, Thai export to Japan accounts for about 10% in average of the total national exports. The Japanese economy is expected to slow down after the recent disasters, and Thai exports would also be affected.
If the Japanese economic growth drops by 1%, Thai export to Japan will plunge by 7.2%. However, the Japanese economy is anticipated to expand only around 0.6%-1.1%, lesser than the initial projection of 1.6%.
About 0.3-0.7% or 735 million to 1.470 billion US dollars of Thai exports hence would be affected, down from earlier targeted expansion of 12%. It was earlier estimated that the Thai export value to Japan would be at around 22.769 billion US dollars.
Some exported goods will get impact from this issue, including 8.3% of industrial products and 2.9% of agro-industrial goods.
