Friday, 24 September, 2021

Thai factory outbreaks may cut exports by $9bn

BANGKOK: Thailand’s key exports could decrease by as much as 300 billion baht (US$9 billion) in the remaining months of the year if the spread of COVID-19 infections continues at factories, the country’s exporters’ group said on Tuesday.

Since April, Thailand has been struggling to contain a coronavirus outbreak that has prompted stricter containment measures and expanded lockdowns as cases surge, report agencies.

“The manufacturing sector has been affected a lot more by this outbreak ... and exports are in the supply chain,” Chaichan Chareonsuk, chairman of the Thai National Shippers’ Council, told a press briefing.

Exports, a rare key bright spot in the economy, might grow by just 7 per cent this year if the outbreak cannot be contained, he added, below the group’s growth target of 10 per cent.