ID :
153937
Sun, 12/19/2010 - 12:56
Auther :
Shortlink :
http://m.oananews.org//node/153937
The shortlink copeid
Thai Commerce Ministry predicts a 10% export growth in 2011
BANGKOK, Dec 19(TNA)- Thailand’s Ministry of Commerce expects the Thai export to grow by 10 percent next year and admits many factors are jeopardizing the target.
Mrs Nanthawan Sakuntanak, director-general of the Thai Export Promotion Department, said the Commerce Ministry hoped the value of the Thai export would grow by 10 percent next year. The expectation is based on the exchange rate of 30 baht per US dollars and the crude price of 76 - 77 US dollars a barrel. The ministry believes the continuous expansion of the world economy and increasing demands from important markets will boost the Thai export.
The senior official said despite the positive outlook of the Thai export, it was still subject to risk factors including the baht appreciation that starts to affect the Thai export and may continue next year. She said further baht appreciation can prompt importers to buy products from the suppliers whose currencies are weaker than the Thai baht, especially from Vietnam and China. The situation can have noticeable impacts on the Thai export in the first quarter of next year.
Besides, operators’ costs are rising due to increasing fuel prices, a wage hike and the benchmark interest rate that goes up by 0.25 percent and will prompt commercial banks to raise their interest rates accordingly.
In addition, labor shortage remains a major problem of important export-oriented industries like automotive, textile and electrical appliance industries.
Mrs. Nanthawan said the Export Promotion Department studied possible impacts on the Thai export by individual industries and would propose solutions to the meeting of economic ministers on December 20 or within this week at the latest. The solutions will be aimed at fulfilling the target export growth of next year.
According to the Export Promotion Department, the Thai export growth in the last two months of this year is estimated at 20 percent. The export growth throughout this year should stand at 24-25 percent and the export value is estimated at 189,000-190,500 million US dollars.(TNA)
Mrs Nanthawan Sakuntanak, director-general of the Thai Export Promotion Department, said the Commerce Ministry hoped the value of the Thai export would grow by 10 percent next year. The expectation is based on the exchange rate of 30 baht per US dollars and the crude price of 76 - 77 US dollars a barrel. The ministry believes the continuous expansion of the world economy and increasing demands from important markets will boost the Thai export.
The senior official said despite the positive outlook of the Thai export, it was still subject to risk factors including the baht appreciation that starts to affect the Thai export and may continue next year. She said further baht appreciation can prompt importers to buy products from the suppliers whose currencies are weaker than the Thai baht, especially from Vietnam and China. The situation can have noticeable impacts on the Thai export in the first quarter of next year.
Besides, operators’ costs are rising due to increasing fuel prices, a wage hike and the benchmark interest rate that goes up by 0.25 percent and will prompt commercial banks to raise their interest rates accordingly.
In addition, labor shortage remains a major problem of important export-oriented industries like automotive, textile and electrical appliance industries.
Mrs. Nanthawan said the Export Promotion Department studied possible impacts on the Thai export by individual industries and would propose solutions to the meeting of economic ministers on December 20 or within this week at the latest. The solutions will be aimed at fulfilling the target export growth of next year.
According to the Export Promotion Department, the Thai export growth in the last two months of this year is estimated at 20 percent. The export growth throughout this year should stand at 24-25 percent and the export value is estimated at 189,000-190,500 million US dollars.(TNA)
