Thai exports shrank 5.36 percent for the first four months


The Thai National Shippers Council has expressed serious concern that Thailand may face economic crisis because of the gloomy global economy which has not recovered yet and has big impact on Thai exports.


Mr Nopporn Thepsittha, chairman of the TNSC, pointed out that exports for the month of April contracted by 8 percent which was beyond expectation and constituted the lowest in six years.

Minus gold and arms exports, exports for the months of February and March which registered 10.27 and 1.37 percent growth respectively should have contracted 3.75 and 1.05 percent respectively and these should have brought the Thai exports for the first four months of the year to minus 5.36 percent instead of minus 1.24 percent.

This is a clear indication that the global economy has not recovered yet and there are still a lot of uncertainties and the risk of a major economic crisis, said Mr Nopporn.