Thailand’s exports may increase by up to 15 percent in 2021

Thailand’s exports may increase by 10 to 15 percent in 2021, according to the country’s National Shippers’ Council (TNSC).

TNSC Chairman Chaichan Chareonsuk stressed that domestic exports improved in recent months, thanks to the global economic recovery, especially in its largest trading partners.

In addition, the rate of vaccination against COVID-19 continues to increase in most countries, he said.

To achieve the target, Thailand needs to accelerate the import of empty containers to an annual average of between 2.01 million and 2.25 million TEUs (20-foot equivalent unit), as well as manage appropriate transport tariffs and provide more labor for the production sector, he said.

He stressed the need to reduce import costs of raw materials such as steel and limit logistics prices for purchases and exports of these items, as well as accelerate the pace of pandemic vaccine immunization for workers, especially those working in maritime and air terminals.

If the national currency remains at an average of 32 baht to one U.S. dollar, it will help improve export activities and raise Thailand’s competitiveness, he added.

According to official data, Thailand’s exports have maintained their upward trend, reaching more than US$20 billion during the last three consecutive months, according to VNA.

-Thailand News (TN)