BANGKOK: Thai exports wiSll keep rising in 2018, fuelled by a 9.2% increase in global exports and the economic recovery of Thailand’s major trade partners: the US, Japan, China and Europe. Global exports will grow of 6.0-6.5% to US$250 billion (8.2 trillion baht). TPSO director general Pimchanok Vonkorpon said the forecast is based on the assumption of a weaker baht at 33-35 per dollar because of US trade policies which may draw money back to the US and support the greenback; an average Dubai crude oil price of $50-$60 a barrel; and Thai GDP growth of 4%.
Since most Thai shippers are SMEs, the impact from falling exports would be larger than in the past, when most exporters were big enterprises. “If SMEs suffer losses, 90% of workers in the economic system do not feel they are benefiting from growing exports,” Ms Ghanyapad said. “That is because up to 90% of exporters are SMEs.” Moreover, she said Thai exporters have to be on alert as competition in the global market has intensified, with more export-oriented countries in Asean revving up their productivity and competitiveness to vie with Thailand.
