TNSC:Thai exports should grow by 9% in 2018

BANGKOK, August 2 (TNA) - The Thai National Shippers' Council (TNSC) has updated its forecast on the country's export growth in 2018 to 8-9 per cent year-on-year, after Thai exports during the first half of this year expanded by up to 10.95 per cent year-on-year. TNSC Chairperson Ghanyapad Tantipipatpong told journalists of the updated forecast on Thursday, saying if Thai exports grow by 9 per cent year-on-year and 10 per cent year-on-year, the country's shipments of goods to overseas markets will have to reach 22 billion US dollars monthly and 22.5 billion US dollars monthly respectively during the second half of this year. Ghanyapad conceded, however, it is unlikely that Thai exports will grow by 10 per cent year-on-year in 2018 due to negative impacts from the ongoing trade war between the United States and China. The TNSC chairperson cited latest news reports as warning that Washington is considering to further raise its tariffs on imported goods from China for another two rounds. Besides, Indonesia has breached an agreement on limiting its supply of natural latex, causing a drop in Thai natural rubber prices and Jakarta has also imposed a trade barrier against Thai exports of durian and longan. The TNSC chairperson acknowledged that the updated forecast of Thailand's export growth this year was based on the foreign exchange rate of 33 baht (+-0.5) a US dollar. According to the TNSC chairperson, although major markets of Thai exports remain to be in Japan and the United States, Thai exporters should explore their new markets to boost their exports, while the Thai government should also keep promoting the e-commerce system to particularly boost Thai exports of agricultural products. (TNA)