Thailand’s export sector is on track for stronger growth this year, with projections indicating an expansion of up to 10.5%, according to the Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB). The new outlook marks a significant improvement from the earlier estimate of 2% to 3%, supported by robust shipments of gold and low-value manufactured goods.
Despite the promising figures, analysts note that much of the export momentum is coming from goods with limited domestic value addition. This suggests the overall contribution to the country’s economic growth may remain modest. Committee member Phot Aramwattananon, Chair of the Thai Chamber of Commerce, estimated the export surge could lift GDP by about 0.4%, emphasizing the need for continued government support measures to stimulate local consumption and production.
The Bank of Thailand recently reported improvements in manufacturing output and export activity, signaling a positive trend for the final quarter of the year. The Finance Ministry has also upgraded its annual export growth forecast to 10%, up from the previous 5.5%, as global demand stabilizes and regional supply chains continue to recover.
Economists highlight that while export growth is promising, strengthening domestic manufacturing and value-added production will be essential to achieving sustained long-term growth.
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