The Thai National Shippers’ Council (TNSC) has said the US debt crisis is pushing the Thai economy down, as exports is forecast to see an 1 percent growth this year.

TNSC Chairman Nopporn Thepsithar said the US economic slump is one of the main factors affecting Thai exports. According to him, the Thai exports is expected to grow only 1 percent this year or by 20 billion USD, much lower than the previous anticipation of 2.5 percent in August, adding that in the first nine months of 2013, Thailand’s export value was 172 billion USD, an increase of only 0.05 percent.

While Thailand saw a slight growth, other ASEAN nations like Malaysia, Indonesia, and Singapore had a minus in their exports.

The Chairman also forecasts that Thailand next year will see its export grow in a range of 5-7 percent, while expressing concerns over the political uncertainty, which could affect the competitiveness of the country.-VNA/NNT