BANGKOK: Thailand’s exports are expected to grow around 2% this year, the country’s shippers’ council said on Tuesday, anticipating higher demand from China as the country reopens.
The council, however, expects export growth in the first quarter this year to drop due to a slowdown in the global economy, Chaichan Chareonsuk, chairman of the Thai National Shippers’ Council, told a news conference.
“We have to see the impact of China’s re-opening in the second quarter,” he said, adding that the Thai baht’s appreciation would also impact the competitiveness of exporters.
Thailand saw 10.9mn tourist arrivals so far this year
The baht was trading at 33.305 to the dollar, the strongest level in nine months.
The council said in a statement that it expects 2023 exports to grow between 1% to 3%.
Exports were set to grow 6.0% to 6.5% for the full year in 2022, but were expected to show a 7.5% drop in December last year, the council said.