BANGKOK: The Thai National Shippers’ Council forecasts the country’s export growth this year at no more than 2%. It says first quarter exports for this year will accordingly fall by 5.86%. Nopporn Thepsithar, chairman of the Thai National Shippers’ Council, stated that Thailand’s exports for February fell by 3.75%.
He said as the economy of Thailand’s primary markets show no signs of improving any time soon, this will result in March’s export contracting by a further 5%. For this reason, expectation for first quarter exports for the year will show a drop of around 5.86%, he said.
The chairman specified that the council’s best estimates for 2016’s export as a whole is between 0 – 2%. This is a reflection on the fragile global economy most especially in the European, Chinese and Japanese markets, he said.
At present, Europe is experiencing a major terrorist crisis which will result in a drop in European tourist volume and see a significant reduction in European purchasing power.
