Sign up | Log in



Home  >>   Daily News  >>   Thailand News  >>   Economy  >>   Bank of Thailand may lower 2012 export growth forecast
NEWS UPDATES Asean Affairs    28 September  2012

Bank of Thailand may lower 2012 export growth forecast


Bank of Thailand (BOT) Governor Prasarn Trairatvorakul said yesterday that the central bank might downgrade its export forecast for this whole year after shipments continued to fall last month.

Exports shrank by 6.95 per cent year on year in August, according to the Commerce Ministry's data. For the first eight months, exports were off 1.31 per cent.

Prasarn said the continued weakness in exports might discourage domestic consumption and investment in the future as well as lending.

The BOT's Monetary Policy Committee will meet next on October 17, when it is expected to review the economic-growth forecast. Based on the 7-per-cent export-growth forecast, the central bank expects Thailand to register growth in gross domestic product of 5.7 per cent this year and 5 per cent in 2013.

Both growth forecasts were lowered this month, from 6 per cent and 5.8 per cent, as Thailand's export sector started to feel the pinch from softening global demand.

Prasarn said he agreed with the recommendations of Ammar Siamwalla, chairman of the Thailand Development Research Institute's advisory board, to let the baht move freely.

Ammar had said the policies to ease appreciation of the currency had discouraged exporters from improving product quality and were a financial burden to the central bank.

Prasarn said it was the BOT's highest hope to let the baht move freely.

However, that can be done only when Thai businesses are strong enough to deal with the volatility by themselves.

If they cannot and the bank allows the foreign-exchange market to become seriously volatile, this could affect the Thai economy.

The central bank also has to consider the adjustment of the business sector. If it fails to adjust, this will hurt the country's economy, he said.

He cited the case of Switzerland, which has strong production and service sectors. Once the euro-zone crisis erupted, people rushed to hold Swiss francs until that currency's value was appreciating. In the end, the Swiss central bank had to step in to prevent the franc from gaining too much.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Today's  Stories    28 September 2012  Subsribe Now !
• Thailand to refocus on more high-speed...  Subcribe: Asean Affairs Global Magazine
• Myanmar Prez to UN: “ Reforms Irreversible” Asean Affairs Premium

• Central, south Thailand regions warned ...

Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Expert doubts BMA’s rainfall claims
• Bank of Thailand may lower 2012 export ...
• Indonesia's airline Merpati teams up with...
• PM Najib to present a populist pre-election ...
• Philippine high court asked to declare ...
Asean Analysis              28 September 2012
Advertise Your Brand
• Asean Analysis- September 28, 2012  
• Asean Weekly- September 28, 2012 Sponsor Our Events

Asean Stock Watch     28 September 2012 

• Asean Stock Watch- September 28, 2012 p

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand