Thai exports look set to grow by 1.3 to 2 per cent this year, some way of the 4 per cent growth that had been projected by the Commerce Ministry.
Current progress has seen only a 1 per cent growth in increase so far, but exporters are hoping for a surge in the second half of the year.
Dr Aat Pisanwanich, the director of the Centre of International Trade Studies, has a positive outlook stating that the last four months usually present the busiest time for exporters.
He also believes more orders are expected due to the US’ economic recovery.
However, Pisanwanich did advise the industry to be wary of currency swings from the Thai baht.
While the Commerce Ministry’s initial estimate of 4 per cent growth is now virtually unreachable, Thailand’s growth for the final quarter of 2013 has been estimated at 5.1 per cent, or US$60.1bn, due to strengthened economies in crucial regions including the US, the European Union and South East Asia.
Next year’s export growth has been forecast at 5.5 per cent, valued at approximately US$250bn, as key economic regions continue to improve.
The ongoing economic slowdowns in China and Japan could pose an obstacle, however, particularly given the latter’s three consecutive years of deficit and volatile currency.
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