BANGKOK — Thailand’s exports are expected to rise 1 percent to 2 percent this year, unchanged from a previous forecast, while a stronger baht will have a limited impact on short-term exports, the Thai National Shippers’ Council said on Tuesday.
Exports, a key driver of the Thai economy, should grow at least 2 percent year on year in the third quarter despite last year’s high base, said Chaichan Chareonsuk, chairman of the Thai National Shippers’ Council.
The recent baht strength did not impact exports in the short term as they had already been settled, he said.
“But it will affect exporters in terms of profit,” he added.
The baht reached its highest level in more than 13 months against the dollar last week before easing slightly this week.
Caretaker Finance Minister Pichai Chunhavajira last week said the currency’s appreciation may impact export values, but he expected normalization later.
In July, exports grew at their fastest rate in 28 months in July, up 15.2 percent on the year, commerce ministry data showed.
In the January-July period, shipments rose 3.8 percent year on year, after contracting 1 percent in the whole of 2023.
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