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Friday, March 29, 2024

Shippers upbeat on 2021, though headwinds loom

The Thai National Shippers’ Council (TNSC) maintains its forecast of 3-4% export growth this year though the traffic slowdown at the Suez Canal and political unrest in Myanmar are threatening to affect 2021 exports.

The outlook is based on positive factors, ranging from distribution of more than 500 million doses of Covid-19 vaccines in 140 countries to the US proposal to increase the federal minimum wage from US$7.5 to $14 an hour, which is expected to increase demand for products from various countries, including Thailand.

However, there are many risk factors that could affect exports and prompt the need to monitor the situation, TNSC chairwoman Ghanyapad Tantipipatpong said yesterday.

The confrontation between the military and people in Myanmar led to fresh concerns over the impact on exports.

The value of exports to Myanmar has already fallen by 29.7%.

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