Xinhua – Thailand’s shipping council representing exporters projected in a report released Wednesday that the country’s export will contract 8 percent this year.
The Thai National Shippers’ Council (TNSC) has revised upward its export projection this year to 8 percent contraction from 10 percent contraction previously forecast, said Ghanyapad Tantipipatpong, the council chair.
Products in demand include rubber gloves, washing machines, fax machines, telephones and parts, and gold, Ghanyapad said.
Demand for Thai products have been on the rise as many countries have eased their COVID-19 lockdown restrictions.
Ghanyapad said that demand for basic need products, such as canned food, farm products, processed farm products, have risen, and the coming Christmas and New Year seasons would further boost demand.
Thailand’s exports in August amounted to $20.2 billion, falling 7.94 percent, against imports of $15.86 billion, dropping 19.68 percent.
Exports in the first eight months contracted 7.75 percent, amounting to $153.37 billion.
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