The economic crisis in the United States and Europe will not have a direct effect on Thailand, but it will have an indirect impact on the country’s exports to countries in Asia and Asean, Commerce Minister Kittiratt Na-Ranong said on Wednesday.
Mr Kittiratt’s comments were contained in a speech on “Direction of Thai Economy in 2012.
He said the effect could be felt indirectly because countries in the region import Thai products for re-export to the US and countries in the European Union.
“The export sector will partly be affected by the global economic crisis, but the Ministry of Commerce will not adjust its export target projection for next year, now at about 15 per cent, in order to avoid an impact on mapped out export plans,” the deputy prime minister for economic matters said.
Mr Kittiratt was confident that 2012 gross domestic product growth would be higher than this year as the government would stimulate the economy through its plans to raise the daily minimum wage and to increase farm incomes, and to boost export expansion.
The Industry Ministry’s Industrial Economics Office said the manufacturing production index (MPI) for August rose by seven per cent on the same month last year to 196.49.
Production capacity utilisation for the month slightly increased to 64.7 per cent, from 63.08 per cent in July, on the back of improvements in main industries, including automobiles, hard disk drives, rubber, cement, air-conditioners and beer, according to the office.
Courtesy of Bangkok Post