FRIDAY, March 29, 2024
nationthailand

Export market expected to contract this year

Export market expected to contract this year

The Thai National Shippers’ Council (TNSC) expects exports this year to contract by 8 percent, even though the first quarter has been good, because people’s purchasing power in several countries will drop due to the effects of the Covid-19 pandemic, the council’s chairwoman Ghanyapad Tantipipatpong said.

However, she said, the easing of Covid-19 measures as well as specific businesses being allowed to reopen may bring about a positive sentiment.
Though exports in March stood at $22.405 billion (about Bt726 billion), marking a rise of 4.17 percent compared to the same period last year, imports also rose by 7.25 percent at $20.813 billion, creating a trade surplus of $1.592 billion in March.
In the first quarter, Thailand’s total exports stood at $62.672 billion, marking a 0.91 percent growth compared to the same period last year.
However, exports of agricultural products dropped by 1.1 percent compared to same period last year, though the sale of granulated sugar, vegetables, fresh, frozen and processed fruit, frozen chicken and pet food expanded. Export of industrial products such as computer parts and air-conditioners rose by 6.4 percent.

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