Despite soaring oil prices and rising production costs driven by the Russia-Ukraine war, Finance Minister Arkhom Termpittayapaisith still hopes to see the Thai export sector expand by 10% this year.
Speaking at the annual ordinary meeting of the Thai National Shippers' Council (TNSC) on Wednesday, Mr Arkhom said his double-digit wish is based on robust export growth of 17.1% last year. The Finance Ministry forecasts average 2022 export growth of 3.6%-4%, while the private sector predicts expansion of 5%.
"For the first two months of this year, the country's exports already fetched US$44.7 billion, up 12.2% from the same period last year," he said. "If the private sector can push growth this year to 10% from its original target of 5%, this will further boost the economy."
