Thai exports set to enjoy healthy growth in Q2

Despite a spate of global uncertainties, Thai exports are expected to perform well in the second quarter, with year-on-year growth of 3.5-5%, according to a group of Thai shippers.

Chaichan Chareonsuk, president of the Thai National Shippers’ Council (TNSC), said Thai outbound shipments are likely to continue growing in the second quarter, albeit at a slower pace than the first quarter when exports expanded by 14.9% year-on-year, fetching the country US$73.6 billion.

Mr Chaichan said the export sector faces myriad risks, including the Russia-Ukraine war; rising energy prices; persistently high freight rates, especially to Europe; a shortage of workers in the manufacturing sector and rising wage costs; and raw material shortages and volatile prices, specifically for semiconductors, steel, rare earth minerals, and intermediate and upstream consumer products.

The TNSC…