BANGKOK, June 30 (TNA) - The Thai National Shippers’ Council (TNSC) has revised down Thailand’s exports in 2015  to...

TNSC Revises down Thailand’s Exports to Contract 2%

By English News | 30 มิ.ย. 2558 18:34 | 5543 views | View Comment
 
BANGKOK, June 30 (TNA) - The Thai National Shippers’ Council (TNSC) has revised down Thailand’s exports in 2015  to contract  2 per cent  from zero growth, said Nopporn Thepsittha,  president of TNSC.
 
Poor exports by the country in May  which were lower  than expected as it contracted 5.01 per cent, making  total exports  in  the first five months  to contract 4.2 per cent  compared to the same period last year,  forced the TNSC to revise down the projected  exports  this year, said Mr. Nopporn. 
 
Mr. Nopporn said that most major markets showed signs of  continued  declining including  Japan, South Korea, the European Union  and India. The U.S., China , Australia and CLMV (Cambodia, Laos, Myanmar  and Vietnam) showed signs of  growing. 
 
Thailand’s exports  are also facing  risky  factors including the ongoing  severe drought, tax privileges  received under the generalised system of preferences, relocation of production  base, outflows of capital  and  currency volatility, said Mr. Nopporn.
 
Although Thailand  has a market share of between 0.06 – 0.07 per cent in Greece, a direct  impact on  the economy  of euro zone  is unavoidable and eventually  to exporters, said Mr. Nopporn.
 
Meanwhile, Udom Wongwiwatchai,  director-general of  Office  of Industrial Economics, opined that Thailand’s Manufacturing Production Index (MPI)  in May  contracted 7.6 per cent  from April  due to falling in production of key industrial goods  including  hard-disk drive and  certain  cars which  changed their models.
 
Exports of  industrial products  during  the first five months this year contracted 2.3 per cent. However,   the Office is optimistic that  MPI  during the second half this year  would rebound  to  the positive zone  of between 2-3 per cent.
 
The Office  has not revised its projection  of MPI for 2015 as it expects that MPI  would grow 3-4 per cent.  (TNA)