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Thailand: 2023 exports seen between 0.5% fall and 1% growth
Thailand’s exports are expected to show between a 0.5% drop and a 1.0% rise this year as global demand remains soft but a weak baht is supportive, the Thai National Shippers’ Council said on Tuesday.
The group earlier forecast between zero and 1% growth in exports, a key driver of the Thai economy.
Trading partners’ economies remained highly uncertain and China’s recovery after its re-opening was slower than expected, the council said in a statement.
Exports, however, could rise 0.6% in the third quarter from a year earlier and increase 12% year-on-year in the final quarter, the council said.
For the January-May period, exports declined 5.1% from a year earlier, having contracted for eight months in a row, customs data showed.
Meanwhile, the Federation of Thai Industries (FTI) reported that manufacturers in 25 industries are adjusting their production plans following an export downturn that caused a drop in value for eight consecutive months.
Source: https://www.bangkokpost.com/business/2605090/thai-2023-exports-seen-between-0-5-fall-and-1-growth-shippers-group