In Thailand, Strong Baht Drags Down Value of Exports

The chairman of the Thai Shippers’ Council (TNSC), also known as the Council of Exporters, has revealed that the TNSC Board of Directors has been considering suggestions for alleviating problems and helping Thai exporters affected by the rapid appreciation of the baht.

This has particularly affected manufacturers of exports of agricultural products and industrial products with a high proportion of domestic raw materials, such as fresh, chilled, frozen and dried vegetables and fruits, canned and processed goods. These products saw export growth in 2021, but the export value began to shrink in the 3rd-4th quarter of 2022 and continued into the 1st quarter of 2023 as the baht appreciated, affecting the overall economy of the country.

The Shippers Council of Thailand is willing to cooperate with the Bank of Thailand to implement the above recommendations to help Thai exporters compete in the global market and support the country’s economy.

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