Thai Shippers Group Sees Q1 Exports Up 5%

February 08, 2022, 01.35 PM | Source: Reuters

ILUSTRASI. A tractor drives past at a rice drying yard at an export rice plant in the central Chainat province in Thailand.

THAILAND - BANGKOK. Thailand's exports are expected to rise by 5% in the first quarter from a year earlier, helped by a recovery in the global economy, the national shippers' council said on Tuesday.

The group maintains that exports, a key driver of Thai growth, are expected to increase by 5% to 8% this year, after jumping 17.1% in 2021 as global demand returned following a pandemic-induced lull.

Exports had a V-shaped recovery last year and the momentum should continue into 2022, said Chaichan Chareonsuk, chairman of the Thai National Shippers' Council.

"I'm confident that every industry has received advance orders, so exports in the first quarter should definitely increase 5%," he told a news conference.

There are risks factors, however, including high fuel prices, a shortage of workers and raw materials, and port congestion, Chaichan said, adding the coronavirus outbreak should be manageable.

Council vice chairman Suparp Suwanpimonkul said if the baht stayed at a range of 33.0 to 33.5 per dollar, it would be a boost to exports this year.