Thailand's exports are expected to rise 1% to 2% this year, unchanged from a previous forecast, while a stronger baht will have a limited impact on short-term exports, the Thai National Shippers' Council said on Tuesday.
Exports, a key driver of the Thai economy, should grow at least 2% year-on-year in the third quarter despite last year's high base, said Chaichan Chareonsuk, chairman of the council.
The recent baht strength did not impact exports in the short term as they had been already settled, he said.
"But it will affect exporters in terms of profit," he added.
The baht reached its highest level in more than 13 months against the United States dollar last week before easing slightly this week.
Caretaker Finance Minister Pichai Chunhavajira last week said the currency's appreciation may impact export values, but he expected normalisation later.
In July, exports grew at their fastest rate in 28 months in July, up 15.2% on the year, Commerce Ministry data showed.
In the January-July period, shipments rose 3.8% year-on-year, after contracting 1% in the whole of 2023.
Source Bangkok Post
September 09, 2024
