The Thai National Shippers’ Council (TNSC) has trimmed its exports forecast to a range of -0.5% to 1% growth, compared with 0-1% growth previously, based on high uncertainty surrounding major trading partners the US, the EU and China, in addition to relatively high global interest rates.
Chaichan Chareonsuk, chairman of the TNSC, said exports still have to brave several risk factors in the second half, including the slow economic recovery of important trading partners such as the US, Europe and China.
Persistently high global interest rates have led to an economic slowdown and increased borrowing costs for entrepreneurs, resulting in higher production costs for exporters.
Factors such as high electricity bills and expensive raw materials have also adversely affected Thailand’s…
