ADB upbeat on exports despite US protectionism

Economy April 20, 2017 13:00

By The Nation

The Asian Development Bank has predicted that Thai exports will expand by 3 per cent this year, following zero growth last year.

Luxmon Attapich, senior economist at the ADB Thailand Resident Mission, said rising market demand overseas would allow exports to play a significant role in driving economic growth here, forecast to rise by 3.5 per cent this year, up from 3.2 per cent in 2016.

She acknowledged concerns about trade protectionism as the United States under President Donald Trump reviews its policy with an eye to reducing trade deficits. Luxmon said, however, that she did not expect Trump to adopt severe measures against Thailand or 15 other countries carrying trade surpluses with the US.

Key factors contributing to Thai economic growth this year include farmers’ rising income and private and public investment in infrastructure projects, she said.