The Thai National Shippers’ Council (TNSC) is confident that the country’s exports will grow by 5% this year despite a potential slowdown in the final quarter.
Chairman Dhanakorn Kasetrsuwan said total export value rose by 13.3% year-on-year to $223.2 billion in the first eight months of this year, while imports increased by 11.3% to $224.9 billion.
The council remains confident that exports will grow by 3-5% this year, driven by strong growth in the first and second quarters, offsetting the slowdown in the second half, he said on Friday.
However, members are monitoring several risks that could affect exports for the rest of the year and into 2026.
The main one is US tariffs, which are contributing to instability in the global economy and highlight the fragility of global trade, Mer Dhanakorn said.
Other concerns include the baht’s appreciation, limited access to credit for small businesses, shortages of raw materials for export production, and product circumvention.
Where the latter is concerned, the council has urged the authorities to tighten controls on the misuse of Thai-origin status for exports to third countries.
Mr Dhanakorn outlined the council’s recommendations for the government, focusing on baht stability in line with regional currencies, enabling exporters to hedge at reasonable costs.
‘We expect the baht to be at 33-34 per dollar,’ he said.
The TNSC also called on the government to lower business operating costs. This includes a review of policy interest rates, commercial bank lending rates, labour and energy costs, as well as postponing new laws or business fees.
‘The government needs to reconsider the draft Labour Protection Act that proposes reducing the working time from six days to five days, as this could result in a 16% increase in production costs,’ he said.
The council has asked that the government include private sector representatives in the discussions of new laws to ensure all perspectives are considered.
The TNSC recommended accelerating the approval and disbursement of the government budget to stimulate domestic demand, expand funding for overseas trade promotion and expedite or expand free trade agreement negotiations with key trading partners.
To support small and medium-sized enterprises that have potential but lack capital, the council recommended setting up a fund for joint investment, which the government can divest when the businesses become financially stable.
The council also wants the government address logistics issues, particularly congestion at Laem Chabang port.
Moreover, the government needs to strengthen the regulation and oversight of import prices and taxes, including both conventional and online trade, to ensure consumer safety and fair competition for domestic businesses.