TNSC: 15% export decline if 2nd-half rebound faltersExports may contract by as much as 15% this year if the country averages just US$16.4 billion a month in the second half of the year, according to a group of Thai exporters. Ghanyapad Tantipipatpong, chairwoman of the Thai National Shippers' Council (TNSC), said on Tuesday that the council looks set to downgrade its shipment forecast if the overall export performance remains unimproved next month. In July, Thai shippers downgraded the country's export outlook to a 10% contraction, deeper than the previous forecast of an 8% drop, due to the coronavirus crisis and the strong baht. Weakening purchasing power and the ailing economies of key trading partners were key components in the TNSC's export forecast cut. "We are keeping the 2020 export forecast at a 10% contraction," Ms Ghanyapad said.

Source: Bangkok Post August 04, 2020 23:35 UTC