THAILAND: Exports will return to positive territory this year with 2% growth for the first time in four years, the University of the Thai Chamber of Commerce forecast on Tuesday.
The university’s Centre for International Trade Studies offered a wide range of export growth projections between 0.1% and 4.1% for 2016 with 2% the most likely target. Centre director Aat Pisanwanich was confident about exports emerging from their slump for the first time in four years.
Markets in the United States, which showed signs of improvement, India and four Asean members — Cambodia, Laos, Myanmar and Vietnam — will help offset China as the world’s second-largest economy is battling an economic downturn, the centre said.
China is the country’s No.1 export destination, comprising around 15% of total shipments. Thai exports have contracted since 2013. Thailand expects 2015 to have declined 5% once final numbers are tabulated. The UTTC forecast appears conservative when compared with the the government’s projection of 5% growth this year.
