Thai shippers' council expects export to expand 7 pct in Q4-Xinhua

Thai shippers' council expects export to expand 7 pct in Q4

Source: Xinhua| 2023-11-07 21:42:15|Editor: huaxia

BANGKOK, Nov. 7 (Xinhua) -- Thailand's export value is expected to expand in the final quarter of this year, bouncing back from contractions seen in the previous three quarters, the Thai National Shippers' Council (TNSC) said on Tuesday.

The country's export value is projected to increase 7 percent in the fourth quarter year on year, due to significant growth in rice and sugar, along with expansions in electronic and automotive product shipments, the TNSC said in a statement.

Despite the slowing economic recovery in the wake of the COVID-19 pandemic, growth in the agricultural and automotive sectors could still offset the slowdown in other sectors, resulting in a slight contraction in export value this year compared to a year earlier, Chaichan Chareonsuk, TNSC's chairman, told a news conference.

According to the TNSC, the shipment value in the first three quarters of this year declined by 4.5 percent, 6.2 percent and 0.47 percent, respectively.

The council maintains its Southeast Asian nation's export value forecast for 2023 to decrease between 1.5 percent and 1.0 percent, as expected earlier.