ID :
168323
Tue, 03/15/2011 - 11:29
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http://m.oananews.org//node/168323
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Thai exports affected by disaster in Japan: UTCC
BANGKOK, March 15 (TNA) - Thailand's overall exports are likely to shrink by 0.3-0.7 per cent, from earlier forecasts of some 12 per cent year-on-year growth this year, due to impacts from a powerful earthquake and tsunami which hit Japan's northeastern region last Friday (Mar 12).
Ath Pisalvanich, director of The University of the Thai Chamber of Commerce (UTCC)'s international trade centre, made the projection on Tuesday, cautioning that Thai exports to be mostly affected include processed meat and seafood, sugar, rubber and cereal products and electrical goods.
Ath said that the natural disaster, the worst in Japan since WWII, should cause a 0.5-1.0 per cent contraction to the world's number two economy. He added that if it were as high as 1%, it could cause a 7.2 per cent-contraction of Thai exports, accounting for some 0.74-1.47 billion US dollars, as Japan is Thailand's second largest export market.
The director assessed that Japan would need at least a couple of years to rehabilitate its disaster-stricken economy, which has also reduced the purchasing power of the Japanese people to lows that could continue over the next 2-3 quarters. (TNA)
Ath Pisalvanich, director of The University of the Thai Chamber of Commerce (UTCC)'s international trade centre, made the projection on Tuesday, cautioning that Thai exports to be mostly affected include processed meat and seafood, sugar, rubber and cereal products and electrical goods.
Ath said that the natural disaster, the worst in Japan since WWII, should cause a 0.5-1.0 per cent contraction to the world's number two economy. He added that if it were as high as 1%, it could cause a 7.2 per cent-contraction of Thai exports, accounting for some 0.74-1.47 billion US dollars, as Japan is Thailand's second largest export market.
The director assessed that Japan would need at least a couple of years to rehabilitate its disaster-stricken economy, which has also reduced the purchasing power of the Japanese people to lows that could continue over the next 2-3 quarters. (TNA)
