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EXIM Bank foresees export growth of 7-9% in 2018

BANGKOK, 25 July 2018 (NNT) – Thai exports will likely continue to do well throughout this year, with a growth rate of 7-9 percent, according to the projection by the Export-Import Bank of Thailand (EXIM Bank).

Mr Pisit Serewiwattana, President of EXIM Bank, estimated that the value of Thai exports in the latter half of 2018 will settle at around 127-132 billion US dollars, increasing from 125 billion dollars in the first half. This is expected to allow the whole year’s export growth rate to reach 7-9 percent.

The President cited several factors as key drivers of Thai exports, such as economic recovery around the world, including the CLMV cluster, soaring oil and commodity prices and leading manufacturers’ decision to expand their business in Thailand as evidenced by an 85 percent year-on-year increase in foreign investment capital in the first quarter of the year.

As for risk factors, he suggested exporters keep an eye on the increase in trade barriers in the world market, especially the trade war between the United States and China, and fluctuations of the Thai baht.

The President assured that EXIM Bank is committed to supporting Thai exporters in distributing their products to markets with high potential and demand by providing them with loans and risk insurance. In the first half of this year, the bank had outstanding loans worth 96.47 billion baht, up nearly 13 percent from the same period last year, while its NPL ratio decreased slightly from last year to 3.39 percent.

Source: National News Bureau of Thailand (NNT) National News Bureau & Public Relations :

Reporter/Rewriter : Surapan Laotharanarit