Thailand’s 2020 Exports Expected to Shrink up to 2.4%

A file photo of PM Prayut Chan-o-cha and his economy adviser Somkid Jatusripitak.

BANGKOK (Xinhua) — Thai exports this year is expected to shrink by 0.9-2.4 percent this year, said a Bangkok academic institution on Tuesday in a news briefing.


Further more, our assessments indicate that Thailand would export 244.23 billion U.S. dollars’ worth of goods in 2020, with the Thai baht appreciating to a six-year high, said Aat Pisanwanich, director of the University of the Thai Chamber of Commerce’s (UTCC) Center for International Trade Studies.

The director also noted that the strong baht, the U.S.-Iran tension and the slowdown in global economy will have direct impacts on Thailand’s exports.

On the other hand, the UTCC forecasts the Thai economy will grow by 2.7-3.7 percent this year.