BANGKOK, July 30 (TNA) — The University of the Thai Chamber of Commerce predicts that Thai exports will fall for the first time in four years due to the trade war between China and the United States.
Att Pisanwanit, director of UTCC’s Center for International Trade Studies, said the prolonged trade war could cap the value of Thai exports at US$251.34 billion, falling by 0.64% year-on-year.
According to him, the value of Thai exports shrank by 2.6% in the first half of this year and made the lowest value in four years. The export value in the second half of this year will rise by 1.6%.
To prevent the annual export decline, Thailand would have to post its export value of at least US$21.66 billion or 670 billion baht a month in the second half of 2019, Mr Att said.
He called for marketing campaigns in new markets including India, Africa and Central Asia.
Regarding export factors in the second half of this year, Mr Att mentioned the global economic slowdown, strong baht and concerns about the government’s policy to raise the minimum daily wage. (TNA)
