Thailand's exports are likely to show a contraction of 10% in the first quarter of this year from a year earlier, bigger than a previous forecast drop of 8%, the country's shippers' council said on Tuesday.

The global economy was slowing and a recovery in China's economy was not as fast as expected, Chaichan Chareonsuk, chairman of the Thai National Shippers' Council, told a news conference.

A relatively strong baht was a challenge for Thai exports, the group said.

However, the group said the central bank had told them it would closely monitor the baht and ensure it was not too volatile.

The group is forecasting exports, a key driver of Thai economic growth, to rise 1% to 2% this year.

Customs-based exports contracted for a fifth straight month in February, by 4.7% from a year earlier, and the commerce ministry predicted shipments would not rebound until the second half of 2023.

 

 

(Reporting by Orathai Sriring and Satawasin Staporncharnchai; Editing by Ed Davies)