Illustrative photo (Photo: Bloomberg)

Bangkok (VNA) – Thailand is looking likely to record a 9 percent growth in exports this year, higher than the previous forecast of 8 percent, thanks to high global demand, according to the country’s Ministry of Commerce.

The prediction was based on the fact that exports in July grew by 8.3 percent from the same period last year and 10.57 percent from January.

In 2017, Thailand’s overseas shipments rose 9.9 percent.

Exports among Thailand and other countries in the region have enjoyed certain favourable conditions as tariff barriers have been removed, with many companies choosing Thailand to locate their production facilities.

Meanwhile, many experts believe that amidst the US-China trade war, Thailand could benefit from opportunities to export items to both the US and China. –VNA