Bangkok, The Chairman of the Shippers' Council of Thailand (STC) stated that from the fluctuations that are difficult to predict in 2024, there are still many risk factors, with the Thai SME export group still being necessary. It greatly enhances liquidity, so the government sector must step in to take care of energy costs, electricity bills, and minimum wages. interest rate to the appropriate level At the same time, there should be soft loan measures to enable Thai exporters to continue doing business. Dr. Chaichan Charoensuk, Chairman of the National Shipping Council of Thailand (NRT) discussed the international trade situation of Thailand in November 2023 compared to the same month of the previous year. It was found that exports were valued at 23,479.7 million US dollars, expanding by 4.9% and had a value in baht of 847,486 million baht. Shrinked 0.2% (when deducting gold, oil, and consumables It was found that exports in November expanded by 4.0%), while imports were worth 25,879.1 million US dollars, e xpanding by 10.1% and valued in baht terms at 944,873 million baht, expanding by 4.8%, resulting in Thailand's trade balance. In November 2023, the deficit was 2,399.4 million US dollars, or 97,387 million baht. However, as a result, the overall picture of Thailand's international trade in January - November of 2023 compared to the same period of the previous year found that Thailand exported a total value of 261,770.3 million US dollars, a contraction of 1.5%, and the value in baht terms was 9,013,184 million baht, a contraction of 1.8% (when deducting gold, oil and weapons. It was found that exports during January - November shrank by 0.5%), while imports were valued at 267,935.5 million US dollars, shrank by 3.8% and had a value in baht of 9,341,112 million baht, shrank by 4.3%, resulting in the trade balance of Thailand in January - November 2023 had a deficit equal to 6,165.3 million US dollars, or equivalent to 327,928 million baht. In this regard, the RTA forecasts that the total export performance t arget for 2023 will contract at -1 percent, while in 2024 it is expected that Thai exports will grow at 1-2 percent (as of January 2024) with factors Important things to watch out for include: 1) Movements in the value of the baht. slightly strengthened The value of the baht moves within the range of 34-35 baht, monitoring the inflation situation in the United States. which has gradually decreased continuously. It is expected that the FED may reduce interest rates in the 1st quarter of 2024. 2) Policy interest rates in many countries remain stable at a high level. But there is a tendency to gradually adjust the policy interest rate in some countries as inflation conditions begin to ease. 3) Geopolitical conflicts The prolonged period has an impact on trade and the overall economy. Especially the critical situation in the Red Sea (Red Sea) in the Bab el-Mandeb Strait, which is the main shipping route to Europe and the Middle East. Resulting in higher freight rates and longer shipping times. 4) The Manufacturi ng Sector Index (PMI) remains stable at a low level, with the United States, Europe, and Japan at levels of 47.9, 44.4, and 47.9, respectively, and 5 ) Concerns about production costs that are still uncertain, such as electricity costs (December 2023 at 3.99 baht, new limit 4.68 baht) and minimum wage (cabinet increased to 2-16 baht), freight rates for European routes. began to increase, etc. In addition, the NRCT has important recommendations, including 1) from the Red Sea crisis situation The public and private sectors must jointly manage international shipping by sea. By requesting to bring more large ships to transport goods in Thailand. Support activities Transshipment and upgrading the Songkhla port by dredging a deep water channel. This is to reduce indirect costs and provide convenience to entrepreneurs. 2) To keep exports in 2024 in a direction that can grow. Relevant agencies must manage risk factors that directly affect business costs, such as energy costs, electricity bills, and minimum wages. in terest rate to the appropriate level At the same time, there should be Soft Loan measures to enhance liquidity, especially in the SME group, from fluctuations that are difficult to predict, and 3) support the budget to open new potential markets in 2024, including promoting border and border trade activities in Thailand. increasing as well. Source: Thai News Agency