Private sector expects 5% export contraction
Play
Vallop Vitanakorn, vice chairman of the Federation of Thai Industries (FTI) and the Thai National Shippers Council (TNSC), expects Thailand's export value to drop by 5 per cent on year in 2015.
Following the 4.92 per cent drop in the first eight months of this year, he said the shipment should remain subdued in the remaining four months.
"If the full-year contraction rate is to be 3 per cent as targeted by the Commerce Ministry, it means the average monthly shipment must generate US$19.49 billion. That is difficult to achieve. Though the baht weakens, other currencies also weaken and this will limit Thailand's competitiveness," he said.
He is hopeful that the ministry's strategy to penetrate 50 export markets would succeed.
