Thailand: Shippers’ council sees Q2 exports rising 5%

• May 02, 2017

Exports are expected to grow 5% in April-June over the same quarter last year, maintaining the first three months’ pace, as buyers continue to build up inventory, the National Shippers’ Council said on Wednesday.

But export gains may slow in the second half of the year if Thailand is affected by US trade protectionist measures, council chair Ghanyapad Tantipipatpong told a news conference.

Thailand runs a trade surplus with the United States, and President Donald Trump in March ordered a study of the causes of US trade deficits.

“Thai exports in the second half may not be as bright as the first half,” Ms Ghanyapad said. For that reason, the council raised its 2017 export growth forecast only slightly, to 2.5-3.5% from 2-3%.

The Commerce Ministry is aiming for export growth of 5% this year.

In January-March, exports unexpectedly increased 4.9% from a year earlier. They rose 0.45% in the whole of 2016 after three years of contraction.

Exports account for about two-third of Thailand’s economy. 

Source: http://www.bangkokpost.com/business/news/1242851/shippers-council-sees-q2-exports-rising-5-