Hanoi (VNA) - The Thai National Shippers' Council (TNSC) has forecast the country's exports to grow by 8-10% this year, saying a favourable exchange rate of 34 THB per USD could help drive export growth into double digits.
The latest projection raised the council’s forecast from an increase of 2-4% made in January.
According to the council, Thailand's exports reached 162 billion USD in the first five months of 2026, up 17% year-on-year, while imports surged 35.6% to 187 billion USD, resulting in a trade deficit of 25.2 billion USD.
TNSC Chairman Dhanakorn Kasetrsuwan said easing tensions in the Middle East and steady demand from major trading partners are expected to support export growth in the second half of the year.
The council expects exports of electronics and electrical appliances to remain strong, with air conditioners and refrigerators projected to post robust growth, driven by demand from Europe and the US.
Free trade agreements and government-to-government deals are also expected to bolster rice exports, with total shipments forecast at 7 million tonnes this year.
Automobile exports are projected to remain stable at 950,000 units, the same level as last year.
Despite the improved outlook, Dhanakorn warned that exporters continue to face both domestic and external challenges, as manufacturers are grappling with persistently high production costs, including raw materials, labour, transport and energy.
Businesses continue to face difficulties in accessing financing, while the impact of the super El Niño phenomenon has affected both the volume and quality of agricultural output, raising concerns over raw material supplies and higher production costs in the agriculture and food sectors, he added.
To strengthen exports, the council called for simplified licensing procedures, stable exchange rates, lower logistics and energy costs, and stricter oversight of imports, to boost local value added.
Dhanakorn added that excise taxes on imported goods could also help encourage the use of locally sourced materials in domestic supply chains./.
