Thailand’s exports are projected to grow by 1% to 2% this year, maintaining the previous forecast, according to the Thai National Shippers’ Council. Despite a stronger baht, which is expected to have a limited short-term impact on exports, the growth trajectory remains unchanged.
Chaichan Chareonsuk, chairman of the Thai National Shippers’ Council, noted that exports, a vital component of Thailand’s economy, are anticipated to increase by at least 2% year on year in the third quarter. This growth is expected despite the high comparison base from the previous year.
The recent appreciation of the baht has not yet affected export values as transactions were already settled. Caretaker Finance Minister Pichai Chunhavajira acknowledged that while the stronger currency might impact export values, a normalization is anticipated.
In July, exports experienced their most significant growth in 28 months, rising by 15.2% compared to the previous year, as reported by the commerce ministry. For the January-July period, shipments increased by 3.8% year on year, a recovery from the 1% contraction observed throughout 202
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