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The private sector is forecasting slower export growth next year, affected by the global trade situation. (Photo of the folder)
The private sector, through two key organizations, warned Tuesday that export growth would decline next year, mainly due to the continuation of the trade war between China and the United States.
The Standing Joint Committee on Commerce, Industry and Banks has forecast export growth of 8 to 10% this year, while noting that it would be difficult to keep up the pace next year. because China and the United States would probably impose more trade barriers. other.
In addition, the new US-Mexico-Canada agreement would have an impact on Thai industries. The committee also discussed Washington's decision to remove 11 Thai products from its Generalized System of Preferences (GSP), as well as slowing growth in major economies.
The National Council of Thai shippers was expecting export growth of more than 5% next year, but felt that the 8% growth target set by the Ministry of Commerce would be called into question. by the trade war between China and the United States.
For this year, the council has set export growth at 8%, as predicted by the Bank of Thailand.
He said the value of exports, which amounted to $ 20.7 billion, was down 5.2% in September from September. Shippers worried about the possibility of a decline in exports for the rest of the year.
The Standing Joint Committee on Commerce, Industry and Banking also pointed to the decline in the number of Chinese tourist arrivals, attributing it to a loss of self-confidence and to the weakening of the Chinese currency and the purchasing power of the Chinese population resulting from the trade war.
In September, about 648,000 Chinese visited Thailand, down 14.89 percent year-on-year and 11.77 percent from August.
However, in the first nine months of this year, there were 28.54 million foreign visitors, up 8.7% from one year to the next. The number of Chinese arrivals grew by 13.3% year-on-year over the same period, but decreased by 8.8% year-on-year in the third quarter.
The committee said that if the cabinet exempts visa fees for visitors, arrivals should increase.
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