Illustrative image (Source: EPA)
 
Bangkok (NNT/VNA) - The Thai National Shippers’ Council (TNSC) believes the export sector could have expanded by no less than 10 percent in 2017 and forecast a 5.5 percent growth in 2018. 

The TNSC said that the country’s November 2017 export value grew to a six-year high of 21.43 billion USD or a 13.4 percent increase against the same period last year. Total export value for the first 11 months of 2017 reached 216.95 billion USD, a 10 percent increase year on year.

Key products included vehicles and car parts, computers and computer parts, and food. Major importers were China, the United States, and Japan. 

Thailand’s export sector in 2018 is expected to grow by 5.5 percent to around 230 billion USD. According to the TNSC, notable industries would be electronic parts, vehicles and vehicle parts, and phone accessories.

The council claims that the key challenge this year lies in the agriculture and food industries, saying the government must encourage farmers to create value-added products, while keeping costs down, and diversifying crops as a way to manage risk. 

Other proposals to the government include ensuring the stability of the Thai baht, developing human resources for the manufacturing sector, supporting exports to new markets, and accelerating logistical infrastructure projects to expedite the Eastern Economic Corridor.-VNA