The Thai National Shippers’ Council (TNSC) revealed that forward orders are being continually placed, leading it to believe that overall exports in 2023 will contract no more than 1.5%.
This optimistic outlook comes on the heels of export growth recorded in both August and September and an expectation for continued orders in the year’s final quarter.
TNSC Chairman Chaichan Chareonsuk cited the Commerce Ministry’s latest data, which showed a 2.1% year-on-year increase in exports for September, amounting to US$25.5 billion.
The ongoing Middle Eastern conflict has not significantly impacted exports as it remains geographically confined and involves only two parties. The favourable exchange rate of 35.50 to 36.50 baht per dollar, despite its high volatility, has remained advantageous for exports.
About the author
Boris Sullivan is a business news editor based in Hong Kong. He has over 15 years of experience in covering the latest trends and developments in the Asian markets, as well as the global economy.