The Thai National Shippers’ Council (TNSC) has raised its export growth forecast to 12% this year, from 6-7% in May and 3-4% in December.
TNSC chairman Chaichan Chareonsuk said the global economy has undergone a strong recovery, especially Thailand’s major trading partners such as the United States, China, the European Union (EU) and Japan. The progress in vaccinations has also helped to build confidence and the resumption of economic activities.
He said the country’s export outlook is expected to continue growing in the remaining months of the year, boosted by recovering demand in foreign markets after vaccinations against the COVID-19 pandemic have risen, while the domestic situation has eased due to the relaxation of the state’s lockdown and curfew measures.
Mr. Chaichan said, however, that Thailand has to earn an average of US$20.85 billion a month to achieve 12% growth this year, while exporters are still fretting over risk factors, such as high COVID-19 infections in the country, notably in factories, which may affect production capacity. Other risk factors are relatively high freight charges, with rates expected to maintain an upward direction until the Chinese New Year period next year. (NNT)
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