Export target revised to minus 3%
Play
The Commerce Ministry today announced the new export growth forecast for 2015: the target was revised from the 2 per cent growth to minus three per cent.
Under the new target, Thailand is expected to to see the export value at US$220.7 billion throughout this year.
This is despite the fact that the new target is based on the average dollar/baht exchange rate at $/35.
Aside from weak demand overseas, hampering the sector - which contributes some 70 per cent of Thailand's gross domestic product - is a fall in agricultural product prices. This year, the aggregate prices are expected to fall by 10 per cent from last year.
