The University of the Thai Chamber of Commerce University (UTCC) forecasts exports to rebound to an expansion of 2-3% this year, with the value ranging from US$290-293 billion, or an average of 2.5%, equivalent to $291.6 billion, from a contraction of 1% last year.
Thanavath Phonvichai, president of the UTCC, attributed the rebound in exports largely to the growing global economy and global trade as well as the recovering demand in main export markets.
He cited the International Monetary Fund’s (IMF) latest projection which raised its forecast for global GDP in 2024 from 2.9% to 3.1%.
This adjustment was attributed to the growing economies of key trading partners, such as Asean, Europe, South Korea and the UK,…
