Thailand's export growth now likely to exceed 8% in 2018

BANGKOK, December 3 (TNA) - The Thai Ministry of Commerce has assessed that the country's export growth this year is now likely to exceed 8 per cent year-on-year, thanks to a 90 day-delay in new tit-for-tat trade protectionist measures between the United States and China. Pimchanok Vonkorpon, Director-General of the ministry's Office of Trade Policy and Strategy Office (TPSO), made the assessment on Monday, explaining that the 90 day-pause in the new US-China reciprocal trade retaliation move should result in a sound and more stable world trade, at least temporarily, and in expanding global exports consequently. Pimchanok noted that in case of Thailand, the sound world trade should particularly boost the country's exports of intermediate goods in the supply chain to the immense Chinese market, including electronic products, which should prop up the country's export growth to exceed 8 per cent year-on-year on average in 2018. The TPSO chief cautioned, however, that a final decision made by both Washington and Beijing needs to be followed up and a conclusion soon on Washington's ongoing safeguard probe on whether its higher import tariffs should be imposed on automobile and parts shipped from trading partners, including China and Thailand, should be closely monitored as it could affect Thai exports late this year. The TPSO chief estimated, meanwhile, that Thailand's inflation should stand at about 1.2 per cent year-on-year on average in 2018 as the country's inflation has steadily increased for the past 17 months due mainly to the rising prices of food products and non-alcoholic drinks. (TNA)