BANGKOK, Dec. 3 (Xinhua) -- Thai National Shippers Council (TNSC) on Tuesday announced it has lowered its export growth forecast for the fifth time this year, which is a drop of between 2.5 percent to 3 percent as a result of the strong Thai baht currency and the global trade frictions which had impacted Thai manufacturing goods.
"The forecast was based on the consumption that the currency stayed at 33 baht against the U.S. dollar," said TNSC Chairperson Ghanyapad Tantipipatpong, "however for the year 2020, the TNSC projects exports to improve to 1 percent growth."
Ghanyapad said TNSC recommends the Thai government to find a way to fix the current monetary policy and exchange rate control measures.
The chairperson said the Thai baht had appreciated 7.6 percent against the U.S. dollar this year, putting massive pressure on Thailand's export competitiveness.
