Chairman of the Shippers Council of Thailand hoping to speed up the establishment of a new government to use the budget to increase activities to stimulate exports After the Thai export figures remained in a negative period for several months.
Dr. Chaichan Charoensuk, President of the Thai National Shippers' Council (TNSC), jointly held a press conference with Mr. Supap Suwanpimolkul, Vice President and Mr. Kongrit Chantarik, Executive Director. Stating that Thailand's international trade in June 2023 with the same month of the previous year (YoY) found that exports were valued at 24,826.0 million US dollars, shrinking 6.4%, and the value in terms of baht was 848,927 million baht, shrinking. 6.3% (when deducting gold, oil and consumables Exports in June contracted by 2.9%), while imports were valued at 24,768.4 million US dollars, a 10.3% contraction, and their value in baht was at 857,188 million baht, a 10.2% contraction. In June 2023, the surplus was 57.7 million US dollars or equal to 8,261 million baht.
However, the overview of Thailand's international trade in January-June of 2023 compared to the same period last year (YoY) found that Thailand exported a total value of 141,170.3 million US dollars, a decrease of 5.4% and value in baht terms. equal to 4,790,352 million baht, a decrease of 3.1% (when deducting gold, oil and military weapons It was found that exports in January-June contracted by 2.3%), while imports were valued at 147,477.9 million US dollars, a 3.5% contraction, and a value in baht terms of 5,067,514 million baht, a 1.3% contraction. Thailand in January-June 2023 has a deficit of US$ 6,307.6 million or equivalent to 277,162 million baht.
However, TNSC maintains its 2023 total export work target between -0.5% to 1% (as of August 2023), with the key risk factors in 2023 being: West This has a great effect on global economic volatility. 2) The economies of major trading partners continued to expand at a slower pace and recover sluggishly, such as the US, European and Chinese markets. 3) Global interest rates remained at a high level. As a result, the financial system tends to have lower liquidity and tighter credit. 4) Production costs are still high, such as electricity costs, raw material prices. Affecting the ability to compete in price of Thai products. 5) Risk from climate change. affecting the amount of water in dams and reservoirs Including agricultural products at the end of the year
In addition, TNSC has important recommendations, consisting of 1) speeding up the process of government establishment; to drive the export activity plan in the second half of the year Including free trade negotiations (FTA) to have continuity. so that the overall economy of the country is stable And accelerate to find more new markets 2) Public and private sectors Must speed up management to reduce the impact on rising production costs such as electricity costs, wages, interest rates This will affect trade negotiations with trading partners. which may be at a disadvantage against major competitors Including the need to accelerate investment to improve the processes of the manufacturing sector and related activities to support new trade measures that are constantly emerging.
3) public and private sectors Need to accelerate financial liquidity for entrepreneurs in the supply chain (Supply Chains Financing), especially small and medium enterprises (SMEs) 4) Public and private sectors Need to accelerate skills and competency of the workforce. 5) The private sector should speed up development and adapt by using digital technology to help in the production process until the delivery of products. 6) The public and private sectors Need to accelerate the search for channels or new forms of international shipping. to reduce transportation costs and raise efficiency and logistics to a higher level. To increase the potential of trade competition.-Thai News Agency
Source: Thai News Agency