Thailand
Export forecast revised down over global uncertainty
Export forecast revised down over global uncertainty
WEDNESDAY, 6 JULY 2016 – Business leaders yesterday slashed their projection for this year’s exports, but maintained the country’s economic growth forecast on anticipation that the robust tourism sector and accelerated public spending would offset bleak outbound shipments. This year’s exports are expected to register anywhere from a flat growth rate to a 2% decline, down from flat growth to a 2% rise projected earlier.
The revised forecast comes as a number of challenges affecting the global economy could affect orders for Thai merchandise, said Predee Daochai, chairman of the Thai Bankers’ Association and chair of yesterday’s meeting of the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB).