global economic situation especially in the US and the EU will not affect Thai exports

 The Department of Export Promotion (DEP) has confirmed that the global economic situation especially in the US and the EU will not affect Thai exports much because Thailand still has other trading partners.

According to DEP Deputy Director-General Vuthichai Duangratana, the DEP has been monitoring the US and EU economic situations closely. The Thai exports to the US will not decline if the US government implements economic stimulus packages in the latter half of this year.

Thai exports to the US account for 9.5% of the country’s exports. In the short-term, the US economic situation should affect Thai exports because of the appreciating Thai baht. Affected products are computers and parts, jewellery and accessories as well as garments.

As for the EU economic situation, the EU central bank has agreed to help its members with debt crisis by purchasing their bonds to prevent the debt crisis from spreading to other nations.

The DEP nonetheless is still confident that the annual growth target of 15% in exports worth 225 billion US dollars or 7 trillion baht will be achieved because economic situation of other trading partners remains strong while Thai goods are in high demand due to better quality.

In addition, Thailand has wider export opportunities with the introduction of Free Trade Area while the DEP will penetrate more markets in the latter half of this year by exporting Thai goods to ASEAN neighbours, China, India and South Asian nations.