Thai commerce ministry says exports expected to grow eight percent in 2019

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Thai commerce ministry says exports expected to grow eight percent in 2019

 

FILE PHOTO: A view of the port of Bangkok, Thailand May 26, 2016. REUTERS/Jorge Silva/File Photo

 

BANGKOK (Reuters) - Thailand's exports are expected to grow 8 percent next year, the commerce ministry said on Thursday.

 

"This year we plan to maintain the 8 percent (growth) target set by the ministry. Next year we forecast we'll maintain the 8 percent target," Thai Commerce Minister Sonthirat Sonthijirawong told reporters in Bangkok.

 

Last month the Thai National Shippers' Council said exports this year are expected to grow 9 percent this year, better than the 8 percent predicted, as global demand remains strong.

 

Some exporters have expressed concern over the strong baht currency's <THB=TH> impact on exports.

 

Sonthirat said the ministry would like the local currency to be weaker so as not to adversely hit exports.

 

Exports, a key driver of Thai growth, jumped 9.9 percent last year after a modest 0.5 percent gain in 2016 following three years of contraction.

 

(Reporting by Pracha Hariraksapitak; Editing by Amy Sawitta Lefevre and Amrutha Gayathri)

 

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