October 14, 2008
Bangkok - Thailand reduced its export growth target to 10% next year because of global financial crisis and political situation, according to commerce ministry.
The country’s exports were expected to grow at a delayed pace.
Previously, it was estimated Thailand’s export growth would be 15%.
"We have to lower our (export growth) target in 2009 because global financial problems may lead exports to slow down," Chaiya told reporters.
Chaiya revealed commerce ministry would seek new markets to offset the delayed export markets.
Exports were expected to value 200 billion dollars in 2009.
Exports account for about sixty percent of the country’s economy. Major export markets are the United States, Japan and European Union.
