Thai exports in August were valued at US$19.7 billion, a 6.9 per cent
drop due to escalating eurozone debt crisis, said Deputy Commerce Minister Poom
Sarapol.
Thailand’s overall major markets
such as Japan, the European Union and the US fell 13.3 per cent, the ASEAN
market by 12.3 per cent and China by 12.9 per cent.
The Commerce Ministry will
convene a meeting Monday to review the export plan, aiming to push 2012 export
growth to seven per cent.
Meanwhile, Dr Somchai
Sajjapongse, Director-General of the Fiscal Policy Office, said that the
country’s gross domestic product (GDP) has been lowered from 5.7 to 5.5 per
cent after the Thai exports growth forecast was reduced to 4.5 per cent from
12.8 per cent.
However, he said Thai
fundamentals remain strong with low unemployment rate at 0.6 per cent and
inflation rate of 2.7 per cent.
This year, private consumption is
a key to stimulate the Thai economy.
Regarding the economic outlook
for 2013, Thailand is likely to face global economic slowdown.
The economy is projected to grow
at 3.6 per cent in 2012 and 4.1 per cent in 2013.
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