Exports are expected to contract by 1-3% in the fourth quarter year-on-year because of slowing global demand, according to the national shipping trade group.
Chaichan Chareonsuk, chairman of the Thai National Shippers' Council (TNSC), said yesterday the value of Thai shipments may fall to an average of US$23.5 billion a month in November and December after the value of the country's customs-cleared exports contracted by 4.4% year-on-year in October to $21.7 billion.
He said exports remain a key driver of the country's economic growth and are still expected to rise 7-8% for the full year and increase by 2-3% in 2023.
