Export growth for 2017 to exceed 6%
Thailand anticipates over 6% export growth this year after performing satisfactorily in the past eight months.
According to Thai National Shippers Council (TNSC) president Kanyapak Tantipipatpong, the export growth projection was based on the 13.2% year-on-year growth to US$ 21.224 billion (700 billion baht).
He said exports during the past eight months ending August 31 rose 8.9% to US$ 153.6 billion (5.2 trillion baht).
With the satisfactory growth, TNSC then raised its full-year export growth projection to at least 6% from 5%, he said.
For this year’s growth, he anticipated 6.9% or almost close to the Commerce Ministry target of 7%, based on US$ 20 billion monthly exports for the remaining last four months of this year.
But he also cautioned about the strength of the Thai currency which has so far appreciated by 6.9% to US dollar this year, the strongest among Asean currencies.
This could affect orders for farm products and impacts small- and medium-sized exporters.
He advised them to hedge against foreign exchange risk in order to minimize impact from the volatility of the baht.
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