ID :
287435
Thu, 05/30/2013 - 14:18
Auther :

TNSC maintains projected Thai export growth at 4.9% in 2013

BANGKOK, May 30 (TNA) - The Thai National Shippers’ Council (TNSC) has maintained its anticipated Thai export growth at 4.92 per cent this year although the Bank of Thailand (BOT) cut its key interest or repurchase rate by 0.25 per cent, from 2.75 per cent to 2.50 per cent, on May 29. According to the TNSC, the BOT's 0.25 per cent reduction in its repurchase rate should not have any significant impact on capital inflows and the value of the Thai baht; so the baht fluctuation should continue this year. Therefore, the TNSC has maintained its prediction that Thai exports should expand by 4.92 per cent throughout this year, urging the Thai government to ease or end the fluctuating and appreciating Thai baht higher than other currencies in the region, to protect Thai exports in its free trade agreement (FTA) talks with trading partners and to implement export solutions concluded at its discussion with the local private sector on June 30, 2012. The TNSC reported on Thursday that the value of Thai exports last month grew by 10.52 per cent year-on-year to about 18.70 billion US dollars, but in the Thai baht the value, Thai exports expanded by only 5.97 per cent year-on-year to 543.71 billion baht due to impacts of the baht appreciation since early this year. The TNSC said that Thai exports increased in most overseas markets year-on-year in April 2013, as most Thai industries had not recovered from damages in Thailand's flooding crisis in late 2012. The TNSC acknowledged, however, that demand for Thai products from the United States, the European Union (EU) and Japan did not grow significantly last month, and that purchase orders for Thai goods from Japan for its Golden Week long holiday from late April to early May did not increase significantly either, whereas Thai exports to Japan are likely to continue slowing down by 2.15 per cent, caused by money injection in Japan and the depreciation of Japanese yen; while shipments of Thai products to the United States should grow by 2 per cent and by 1 per cent to the EU. (TNA)

X