Thai exports could grow above 2% this year, shippers’ group says
12:09 am Tuesday, November 05th, 2024
BANGKOK (Reuters) – Thailand’s exports could grow more than 2% this year and beat a previous forecast, the Thai National Shippers’ Council said on Tuesday.
“At worst, if Q4 numbers are the same as last year, exports should exceed 2%,” said Chaichan Chareonsuk, chairman of the Thai National Shippers’ Council.
The council previously saw 2% growth.
Exports, a key driver of the economy, rose 1.1% in September from a year earlier. The government is targeting export growth of 2% this year, with the value of shipments expected to reach a record high of $290 billion.
In the January-September period, exports rose 3.9% from the same period in 2023, commerce ministry data showed, with shipments expected to continue to increase in the final quarter.
There could be some exchange rate loss among exporters in the fourth quarter from the baht appreciation, Chaichan said.
At the end of September, the baht reached a 31-month high at 32.125, before gradually depreciating to its weakest level in over two months at 33.915.
“The exchange rate in the fourth quarter of 33.5 to 33.8 is considered manageable,” Chaichan said.
(Reporting by Thanadech Staporncharnchai; Writing by Chayut Setboonsarng; Editing by Martin Petty)
