Thai first-quarter exports seen up 8per cent year-on-year, higher than earlier forecast - shippers
BANGKOK : Thailand's exports are expected to rise by 8per cent in the first quarter from a year earlier, up from 5per cent previously forecast, due to pre-confirmed orders, the national shippers' council said on Friday.
While exports should continue to grow 5per cent this year, the broader impacts of an escalation of the conflict between Russia and Ukraine could cut export orders by between US$4 billion and US$5 billion in the second quarter, the group said in a statement.
Shipments that could be affected include cars and car parts, rubber products and electrical appliances, it said.
Last year, exports, a key driver of Thai growth, rose about 17per cent, with shipments to Russia worth US$1 billion, or 0.38per cent of the total. Exports to Ukraine accounted for 0.05per cent, commerce ministry data showed.
(Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Martin Petty)