The Thai National Shippers' Council cuts its 2019 export growth forecast from 3% to 1 %. (Bangkok Post photo)Thailand's shipping body said on Tuesday it had cut its 2019 export growth forecast for the second time in a month, from 3% to 1%, as global demand slows amid mounting trade protectionism. Exports, a key driver of Southeast Asia's second-largest economy, declined 1.86% in January-April from a year earlier, customs data showed. A global economic slowdown has affected consumers' purchasing power while a prolonged US-Sino trade dispute had disrupted supply chains, Ghanyapad Tantipipatpong, chairwoman of the Thai National Shippers' Council, said in a statement. In May, the group cut its export growth estimate for this year from 5% to 3%, while the state planning agency lowered its forecast from 4.1% to 2.2%.

Source: Bangkok Post June 04, 2019 06:16 UTC