KONTAN.CO.ID - BANGKOK. Thailand's shipping body said on Tuesday it had cut its 2019 export forecast to a 1% decline from a 1% rise, in its third downgrade in two months, due to weaker global demand and a stronger baht. Exports, a key driver of Southeast Asia's second-largest economy, dropped 2.7% in January-May from a year earlier. May's export decline of 5.8% was worse than forecast. "A chance of export growth is very dim... so, we expect exports to fall 1% this year," Ghanyapad Tantipipatpong, chairwoman of the Thai National Shippers' Council, told reporters. "If we are lucky, exports may be flat".
Thailand shippers see exports contracting 1% this year
KONTAN.CO.ID - BANGKOK. Thailand's shipping body said on Tuesday it had cut its 2019 export forecast to a 1% decline from a 1% rise, in its third downgrade in two months, due to weaker global demand and a stronger baht. Exports, a key driver of Southeast Asia's second-largest economy, dropped 2.7% in January-May from a year earlier. May's export decline of 5.8% was worse than forecast. "A chance of export growth is very dim... so, we expect exports to fall 1% this year," Ghanyapad Tantipipatpong, chairwoman of the Thai National Shippers' Council, told reporters. "If we are lucky, exports may be flat".