Thai Exports Staying Home
Thailand’s Chamber of Commerce chairman Dusit Nontanakorn announced today that Thailand’s exports would drop considerably this year. He estimates that exports will be reduced by somewhere between 10% and 26%. He expects a recovery next year.
Local media quorted him as stating “However, the country’s exports will likely pick up in the third quarter as can be seen from higher export orders in June,” he went on to say “The government needs to instruct the Export-Import Bank of Thailand to provide more trade risk insurance,” “Exports in 2009 may take a nosedive, but by no more than 26 per cent.” Food exports remain healthy, but luxury goods and technology are driving the downward turn.
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