TNSC sees 10% export dropThai shippers have downgraded the country’s export outlook to a 10% contraction, deeper than the previous forecast of an 8% drop, with the finger pointed at the coronavirus crisis and the strong baht. Ghanyapad Tantipipatpong, chairwoman of the Thai National Shippers’ Council, said weakening purchasing power and the ailing economies of key trading partners were key components in the TNSC’s export forecast cut. According to Ms Ghanyapad, a handful of Thai products still see promising prospects such as processed agricultural products, food, fruits and canned processed food. “The baht has gained very fast, faster than the currencies of any Asean peers, making Thai exports less competitive and affecting overall exports,” she said. Ms Ghanyapad said the group foresees the country’s export performance in the remaining months will become negative in every month.

Source: Bangkok Post July 07, 2020 10:30 UTC