EXIM Bank says Thai export sector will do well this year

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BANGKOK,(NNT)-The Export-Import Bank of Thailand (EXIM BANK) has forecast that the Thai economy will be susceptible to several factors this year.

EXIM Bank Chairman Manas Jamveha said the Thai export sector will grow due to the recovery of the U.S. economy and rising demand for Thai rice and sugar in Cambodia, Laos, Myanmar and Vietnam.

EXIM Bank says Thai export sector will do well this yearEXIM Bank Chairman Manas Jamveha

The demand for plastic products, air conditioners and components and petroleum products by Thailand’s trading partners continues to grow due to lower oil prices and China’s inability to step up its production to satisfy market demand.

The EXIM BANK Chairman further stated that Thailand is likely to export more vegetables, fruits, processed sea food as well as jewelry to the U.S. as its economy is doing better.

The cassava production in Thailand will also grow in accordance with the global market. Other products that are expected to do well include rubber, gloves, condoms, cars, auto parts and electric circuit board.