Thailand’s shippers group sees exports to make a sharp spike in the fourth quarter, boosted by agricultural products and automobiles, while maintaining an exports outlook between a 0.5% drop and a 1% increase this year as slowing global production has affected demand for exporters.
Chaichan Chareonsuk, Chairman of the Thai National Shippers’ Council said on Tuesday that the group expected to see exports to grow 0.6% from a year earlier in the third quarter and a significant growth of 12% in the fourth.
The chairman expected shipments of some agricultural products and automobiles to support exports growth in the remaining five months.
Meanwhile, the ban on rice exports by the Indian government should boost the selling price of Thai rice, according to Suparp Suwanpimolkul, vice chairman of the group.
Earlier this morning, official data showed that China’s exports in U.S. dollar terms fell 14.5% in July from a year ago, while imports plunged 12.4% as the world’s second largest economy continued to struggle after coming out of the global pandemic.
The trade data was worse than the consensus, especially on imports. Reuters poll expected exports to fall by 12.5% in July from a year ago and imports to drop by 5%.
