Thai exports seen up 1% to 2% this year, shippers’ group says

THAILAND’S exports are expected to rise 1 to 2 per cent this year, unchanged from a previous forecast, while a stronger baht will have a limited impact on short-term exports, the Thai National Shippers’ Council said on Tuesday (Sep 3).

Exports, a key driver of the Thai economy, should grow at least 2 per cent year-on-year in the third quarter despite last year’s high base, said Chaichan Chareonsuk, chairman of the Thai National Shippers’ Council.

The recent baht strength did not impact exports in the short term as they had been already settled, he said.

“But it will affect exporters in terms of profit,” he added.

The baht reached its highest level in more than 13 months against the US dollar last week before easing slightly this week.

Caretaker Finance Minister Pichai Chunhavajira last week said the currency’s appreciation may impact export values, but he expected normalisation later.

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In July, exports grew at their fastest rate in 28 months in July, up 15.2 per cent on the year, commerce ministry data showed.

In the January to July period, shipments rose 3.8 per cent year-on-year, after contracting 1 per cent in the whole of 2023. REUTERS