Cargo ships lined up at Klong Toey Port in Bangkok. The best-case scenario for export growth this year is zero, according to a private sector panel. (Photo: Apichit Jinakul)
Dim economic prospects over the next six months have caused the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) to cut its export growth forecast to -2% this year, down from -1%.
The committee’s best-case scenario for exports is zero growth.
The latest projection is based on the global economic slowdown and estimates for China’s growth to decrease to 5.4-5.5%, down from a previous estimate of 6%, as well as rising interest rates, said Payong Srivanich, chairman of the Thai Bankers’ Association.
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