Thai exports in August were valued at US$19.7 billion, a 6.9 per cent drop due to escalating eurozone debt crisis, said Deputy Commerce Minister Poom Sarapol.
Thailand’s overall major markets such as Japan, the European Union and the US fell 13.3 per cent, the ASEAN market by 12.3 per cent and China by 12.9 per cent.
The Commerce Ministry will convene a meeting Monday to review the export plan, aiming to push 2012 export growth to seven per cent.
Meanwhile, Dr Somchai Sajjapongse, Director-General of the Fiscal Policy Office, said that the country’s gross domestic product (GDP) has been lowered from 5.7 to 5.5 per cent after the Thai exports growth forecast was reduced to 4.5 per cent from 12.8 per cent.
How the COVID-19 situation may affect Thailand’s export sector
Thailand’s export sector could face damage of 200-300 billion baht if the situation cannot be brought under control within six months.
The Thai National Shippers’ Council has raised a concern that the export sector might face a 200-300 billion baht toll should the COVID-19 situation not be brought under control in six months, urging the government to speed up the vaccine rollout to all segments of the population.(more…)
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