Thai export, import will be better this year

BANGKOK, 7 January 2010 (NNT) – Thai exports for 2010 is expected to expand at 10.5% and import at 14.4%, according to the Center for International Trade Studies (CITS) of the Thai Chamber of Commerce University.

CITS Director, Dr Aat Pisanwanich, stated that the national export would rebound from the negative territory of 15% in 2009 at 166.90 billion USD or plus 10.5%. The total export value is expected to decrease by 10.87 billion USD when compared with 2008.

The director added there were five main negative factors for Thai export, including the dong currency devaluation of Vietnam, volatility of other currencies, fiercer price competition resulting from the ASEAN Free Trade Area and ASEAN-China Free Trade Area, and increasing oil prices. He noted that the Vietnamese government might decide to devalue its dong currency further 10% in this year.

As for the positive factors, Dr Aat said the global economic recovery would certainly help expand the national export, and the free trade agreement would likely give positive effects to the export of foods and agricultural products groups in the ASEAN and Chinese markets.

Regarding the national import for 2010, the director forecast that it would expand at 14.4% or 149.88 billion USD in line with the global economic recovery. The import figure for 2009 stood at at -26.7%.