TNSC in September had revised down its export growth projection from 4% to 2.5%.
The council’s chairman Nopporn Thepsithar said the new projection had taken into account the US economy which showed signs of picking up. But the United States still had unclear financial policies that might impact on its public debt status.
The exporters also found that the currency exchange rate and long term economic outlook for Thailand as well as the diminishing purchasing power of buying countries would result in lower exports from Thailand.
Thailand’s nine-month exports had growth of only 0.05% with total value of US$172.14 billion, while the projection for the remaining three months of this year was only at 1%.
Therefore, Mr Nopporn said the overall export growth of Thailand in 2013 was forecasted at 1% higher than $229.24 billion in 2012.
However, when compared with the performance of Thai exports in the first three quarters to countries in Asean, Thailand still had positive growth while Malaysia had a contraction of 5.36%, Indonesia 4.96% and Singapore 1.35%.
Mr Nopporn said the exporters viewed that the country would be able to expand exports by 5-7% next year, in line with improving economic sentiments of major trading countries such as the US, the European Union and Japan.
Meanwhile, the private sector was still worried about the internal political situation that may hurt the country’s export ability as the government gave a priority to solving political problems more than long-term economic matters.
TNSC vice-chairman Vallop Vitanakorn said exports this year would not be hurt by the current political situation but it might impact on the performance next year and growth might be lower than projections.
He said political rallies might increase costs for exporters if main transportation routes are closed, so the government should solve the problem quickly.