BANGKOK: Exporters estimated Thailand in 2015 will shipments contract 5.5% year-on-year, as fourth-quarter exports shrank more than expected.
Nopporn Thepsithar, chairman of the Thai National Shippers Council, said December exports would total about UScopy7.7 billion, down 5.53% from copy8.7 billion in the same month in 2014.
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The council therefore estimated total exports for last year would come in at $215 billion, a contraction of 5.5% from 2014.
He said the main factor depressing the kingdom’s outbound shipments was the unexpectedly sluggish world economy, particularly in China, where economic growth fell short of government goals.
The continuing weakness of the yuan against the dollar caused fluctuations in regional currency exchange rates, which resulted in slower trade. The downward trend of global oil prices also pushed down farm and commodities rates.
The council believes exports will rebound, increasing around 2% in 2016 with a commodities value of $219 billion, an average of copy8.2 billion a month.
