TNSC predicts 12% export growth in last quarter
With the economies of most major trading partners like the US, China, European Union and Japan showing signs of recovery, the Thai National Shippers’ Council (TNSC) believes exports will grow by 12 per cent in the last quarter.
TNSC chairman Chaichan Charoensuk said if the Covid-19 outbreak can be controlled then Thailand can expect to earn up to US$22 billion from exports in the last three months of the year.
However, he warned export growth may be affected if the authorities are unable to contain the virus and fully inoculate at least 50 million people by yearend.
Another obstacle is the rising freight rate, which may remain high until the end of 2022 especially for shipments to the EU and US. Also, additional costs such as peak season surcharge (PSS) may affect the cost of goods, as will the shortage of containers and storage space.