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BANGKOK, Oct 9 - Thailand's exports in the fourth quarter are expected to grow at a slower pace than in the previous quarter since the shipment to main export destinations has declined, according to the University of Thai Chamber of Commerce's International Trade Centre.
Atha Pisalvanich, the centre's director, projected the exports in the fourth quarter would total US$32.92 billion, down from those in third quarter, which saw the growth of 5.7 per cent.
He attributed the slower growth to a slowdown in the shipment to main destinations such as the United States, higher interest rates, and stronger baht.
The expected further drop in fuel prices late this year is a single positive factor to the export growth.
He said the country's imports are projected to rise by 0.2 per cent to $34.04 billion, down from those in the previous quarter, which saw the growth of 4.1 per cent.
The slower growth was attributed by an expected slowdown in the imports of fuel products, capital goods, raw materials, instant and consumer goods.
The trade balance is expected to be in deficit of $1.89 billion against a surplus of $852 million in the third quarter since the exports are likely to decline and the imports to remain higher.
The current account balance is forecast to be in surplus of $654 million, down from $2.03 billion in the previous quarter since tourism in the fourth quarter looks dimmer in the wake of a series of bomb explosions in the Hat Yai district of the southern province of Songkhla.
Mr. Atha also projected the exports for the whole year would expand 15.8 per cent and the imports 10.4 per cent, resulting in a trade surplus of $2.26 billion and a current account surplus of $3.19 billion. The gross domestic product would grow 4.3 per cent.
Next year, he said, the GDP is expected to grow 4.3-4.8 per cent due to an increase in consumption, investment, and state spending.
The exports are likely to grow 11.5-13.5 per cent with a current account surplus of $6 billion. (TNA)
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