InfoQuest, (April 1, 2019) -- Thai National Shippers' Council (TNSC) lowered its export growth forecast to less than 5 percent for this year, citing two main hurdles. One is global trade sentiment, due to unpredictable Brexit negotiation result, America's trade barriers and global economic slowdown dealing a double blow to Thailand's export, and Japan and Europe's reporting a negative growth. The other is a host of trade barriers introduced by foreign countries.
Given these factors, TNSC forecasts an export increase of less than 5 percent in 2019. Current exchange rate of baht to U.S. dollar stands at 33.00 baht/U.S.dollar (with a fluctuation range of 50 satang)
TNSC also made a comment on Thailand's new administration, urging that a politically stable government should be established as soon as possible so as to support Thailand's global trade growth. Moreover, TNSC holds that a hike in the minimum wage will have a direct effect on manufacturing and service, so it suggests the new administration adopting a more accommodative policy by taking the bearing capabilities of specific industries and the skill realities of the workforce into consideration.
Source: InfoQuest, by Tanawat Suayaem/Kasamarporn/Ratchada, translated by Xinhua Silk Road
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