TNSC: Thai export to expand by 5.9% this year

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BANGKOK, 31 July 2012  – The Thai National Shippers’ Council (TNSC) and Thammasat University have estimated that Thai export will expand by 5.9% this year, after the nation was faced with flood repercussions in the first half of the year, and will likely be affected by the European economic slowdown. 

TNSC Chairman Paiboon Ponsuwanna speculated that the European economy is unlikely to improve in the next couple of years, while the Asian economy is expected to be robust. He added that the US economic stimulus measures will result in more orders from the US.

Region by region, Mr Paiboon estimated that Thailand’s export to ASEAN nations will expand by 10.5%, the US 8.2%, and Japan 3%; but export to the European market is expected to shrink by 2.2%