Thai minister says aiming to beat 2025 export growth forecast

BANGKOK (Reuters) – Thailand could beat a government forecast of 2% to 3% export growth in 2025, the commerce minister said on Wednesday as he played down concerns about the potential impact of the second Trump administration on local exporters.

Pichai Naripthaphan also said a weaker baht, closer to 36 or 37 per dollar from current levels under 35 per dollar, would be more appropriate for exporters.

“I’m not too worried. I think we can handle it. If Thailand is hit, others will be hit harder than us,” Pichai said about possible new U.S. trade policies after meeting with business representatives on the outlook for shipments.

Exports, a key driver of Thailand’s growth, jumped 14.6% in October, the fastest pace in three months, and increased 4.9% annually in the first 10 months of 2024. Overall export growth for 2024 is expected to be 5%, Pichai said.