Thailand targets 5% export surge in 2016
Thai Ministry of Commerce on January 4 projected that national shipments to foreign countries will grow 5% in 2016 after years of contraction.
The target was spurred by global economic recovery, Government’s demand stimulus programmes and special economic zones’ development.
According to the Ministry, unfavourable factors that are likely to impact Thai export target include oil price fall, China’s economic slowdown and the EU’s application of strict seafood import conditions.
In the year, Thai exports are expected to move back into positive markets such as Cambodia, Laos, Myanmar, the EU, Vietnam, Australia, India, China and the US. However, export contraction will be seen in the Japanese, Middle Eastern and African markets.
In a bid to realise the set target, Commerce Ministry will map out a line-up of key strategic programmes, focusing on market access and economic cooperation, demand-driven marketing, trade enlargement in border areas, outward investment promotion, innovation-driven business development and high-value industrial products.
Total exports of Thailand in 2015 came in at US$215 billion, decreasing 5.5% from 2014.
According to the Ministry, unfavourable factors that are likely to impact Thai export target include oil price fall, China’s economic slowdown and the EU’s application of strict seafood import conditions.
In the year, Thai exports are expected to move back into positive markets such as Cambodia, Laos, Myanmar, the EU, Vietnam, Australia, India, China and the US. However, export contraction will be seen in the Japanese, Middle Eastern and African markets.
In a bid to realise the set target, Commerce Ministry will map out a line-up of key strategic programmes, focusing on market access and economic cooperation, demand-driven marketing, trade enlargement in border areas, outward investment promotion, innovation-driven business development and high-value industrial products.
Total exports of Thailand in 2015 came in at US$215 billion, decreasing 5.5% from 2014.