TNSC:Thai exports should grow 5% in 2017

BANGKOK, September 4 (TNA) - The Thai National Shippers' Council (TNSC) says it is now likely that Thai exports should grow by 5 per cent year-on-year in 2017, as the Thai currency has appreciated the most in Asia lately. TNSC Chairwoman Ghanyapad Tantipipatpong told journalists of the updated projection on Monday, explaining that the stronger Thai baht makes it hard to enable the country's export growth to reach 7 per cent year-on-year as expected by the Ministry of Commerce. Ghanyapad pointed out that Thai exports must reach about 19.6 billion US dollars monthly during the rest of the year to enable them to grow 7 per cent on average year-on-year in 2017. According to the TNSC chairwoman, Thai exports during the first seven months of this year stood at about 132.40 billion US dollars, a 8.2 per cent year-on-year growth, or at 4.57 trillion baht, a 5.9 per cent year-on-year growth, with top five markets for Thai exports including China, the United States, Japan, Hong Kong and Vietnam. The TNSC chairwoman revealed that Thai exports in July 2017 alone were recorded at 18.85 billion US dollars, a 10.5 per cent year-on-year increase, or at 635.79 billion baht, a 6.6 per cent year-on-year increase. The TNSC chairperson cautioned that remaining risk factors for Thailand's export growth include the appreciation of the Thai currency by 7.42 per cent so far this year, the highest rise in Asia, and impacts from the current tension in the Korean Peninsula following North Korea's six tests of nuclear missiles lately. The TNSC chairperson proposed that the Bank of Thailand (BOT) closely monitor and timely handle the Thai currency to become stable and hover at the most appropriate range, being comparable to the currencies of rival exporting countries in the region. (TNA)