TNSC predicts 3-5% growth in 2021 forecast

The Thai National Shippers’ Council expects Thai exports will rebound to 3-5% growth next year, driven by the Regional Comprehensive Economic Partnership (RCEP) pact, Covid-19 vaccine progress and a fast economic recovery in China.

Chairwoman Ghanyapad Tantipipatpong said on Tuesday the figures are based on the council’s “conservative forecast” for 2021 exports.

The growth is possible “if export volume averages between US$19.6 and $20.04 billion per month next year,” she said.

More exports are expected in part because Thailand is joining the RCEP, with the population of member countries totalling 2.2 billion, or 30% of the global population, and trade volume exceeding $10.4 trillion in value.

Rising exports of food and medical supplies, higher global oil prices and improved economic prospects for China are also factors.

Ms Ghanyapad said there are risk factors…