Thailand’s export industry is predicted to experience moderate growth, ranging from 2% to 4% this year, primarily due to a surge in foreign investment, as stated by the National Shippers’ Council of Thailand (NSCT).
During a recent media briefing, NSCT Chairman Dhanakorn Kasetrsuwan expressed that while export statistics show a positive trend, concerns regarding the sustainability of this growth persist. He emphasized that much of the increase is attributed to foreign enterprises establishing production facilities in Thailand, rather than strong performance from domestic exporters.
“While exports are projected to grow by approximately 2-4% this year, the results fall short of expectations,” Dhanakorn remarked. “A substantial share of this growth is reliant on foreign investments, which could intensify competition for Thai entrepreneurs, particularly among small and medium enterprises.”
Thailand has effectively attracted foreign investment thanks to its advantageous location, robust infrastructure, and access to regional markets. Numerous multinational corporations have expanded their manufacturing capabilities in sectors like electronics, automotive parts, and processed foods, leading to increased export volumes.
Nonetheless, industry leaders caution that without improved support, domestic exporters may find it difficult to compete against well-funded foreign counterparts. Increasing production costs, global economic fluctuations, and variable demand in crucial markets such as the United States, China, and Europe pose additional challenges for Thai enterprises.
The shippers’ council urged regulatory bodies to implement targeted initiatives to bolster domestic exporters, including streamlined access to financing, export incentives, and strategies to help Thai businesses ascend the value chain.
Despite these apprehensions, officials approach the future with cautious optimism, believing that sustained investment and favorable global trade trends could stabilize Thailand’s export landscape in the forthcoming months, provided that local businesses receive the necessary backing to stay competitive.
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