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• The export picture in 2014 should brighten, with the ministry forecasting 5.9-per-cent growth but the political conflict in Thailand could become a new negative factor for the Kingdom's trading capability.
• Some large investors have shifted their focus to neighboring countries, so export figures would grow in other ASEAN nations instead of at home (Thailand)
The export sector faced a sluggish 2013, with estimated growth of only 0.2 per cent, hit by many negative factors both internal and external. Inevitably, some of those factors will continue into the new year, especially continuing political conflict in this country and an uncertain global economic recovery.
The Commerce Ministry reported that exports in the first 11 months of 2013 contracted by 0.49 per cent year on year to US$210.09 billion (Bt6.943 trillion). Shipments by the agricultural-industrial sector fell 5.7 per cent, while those by the industrial sector dropped slightly, by 0.1 per cent.
However, the export picture in 2014 should brighten, with the ministry forecasting 5.9-per-cent growth on expectations of a recovering US economy and a weakening baht, while many industries have learned to adapt their export strategies to a seamless market.
The global economy was hit hard during the past few years by the US-led financial crisis and debt problems in the European Union, while Thailand suffered a blow of its own with the 2011 flood disaster. Now, while there are signs of better prospects globally, the political conflict in Thailand could become a new negative factor for the Kingdom's trading capability.
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