Shippers keep faith in 5-8% growth view

A group of Thai exporters remains bullish on the country’s prospects this year, despite slower growth in April.

Chaichan Chareonsuk, chairman of the Thai National Shippers’ Council (TNSC), said the council believes 5-8% growth for the country’s export sector is still achievable, with key drivers including the depreciation of the baht and robust demand for many products such as sugar, rubber, auto parts, textiles, food, rice, and gems and jewellery.

The council projected Thai exports could maintain growth of 3-5% in the second quarter, with growth of 5% in both the third and fourth quarters. Exports grew by a healthy 8.7% in the first quarter.

“To achieve 8% growth this year, Thai exports would have to fetch an average of US$24.8 billion per month during the remaining months of 2022,” said Mr Chaichan. “More importantly, energy prices should not exceed…