Thailand's exports expected to grow by about 8% in 2018, 2019

BANGKOK, December 21 (TNA) - The Thai Ministry of Commerce projects that the country's exports should now grow by about 8 per cent year-on-year in both 2018 and 2019. The updated projection was announced on Friday by the ministry's Trade Policy and Strategy Office (TPSO) and Department of International Trade Promotion. TPSO Director-General Pimchanok Vonkorpon told journalists that Thai exports should grow by about 8 per cent year-on-year in 2018 if the country's shipments of goods to foreign economies reached about 22 billion US dollars this month, or at least 7.5 per cent year-on-year if Thai exports stood at about 21.6 billion US dollars in this last month of 2018, despite a contraction of Thai exports by about 0.95 per cent year-on-year last month. Department of International Trade Promotion Director-General Banjongjitt Angsusingh assessed, meanwhile, that Thai exports should keep growing by about 8 per cent year-on-year in 2019 as earlier targeted by her ministry despite remaining risk factors, noting that a shrink in Thai exports last month was caused by short-term factors without any serious concern. Banjongjitt stated that Thai exports during the first 11 months of this year stood at about 232.73 billion US dollars, a 7.29 per cent year-on-year increase, resulting in the country's trade surplus of about 1.38 billion US dollars so far this year. Both the senior Thai officials, however, cautioned about both internal and external risk factors as challenging Thailand's export growth next year, including impacts from, probably, a delay in negotiations on new trade frameworks after the country's new general election in February 2019 and a drop in Thai exports, caused by the ongoing trade war between the United States and China and by a new trade deal between the European Union (EU) and Vietnam. (TNA)