Downward revision in forecast reflects weakening global demand
Cargo ships wait to be loaded at Laem Chabang Port in Chon Buri. (Bangkok Post File Photo)
The value of Thailand’s exports is likely to contract 8% in the first quarter from a year earlier as global demand slows, the Thai National Shippers Council (TNSC) said on Tuesday.
The revised figure is a substantial downgrade from the group’s previous forecast of a 3.7% decline in the January-March period.
The Ministry of Commerce said last week that it also expected exports to contract in the first quarter, but that they would likely start recovering from the second quarter.
The upturn would be driven in part by an acceleration of imports to…
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