Thailand may lose $65m in Q1 exports to China

While businesses in Europe and the US have been expressing concern about breaches in their import supply chain as a result of the nCoV outbreak in China, Thailand is looking at a hit on its exports. The Thai National Shippers’ Council said this week that Thailand could lose THB2bn ($64.6m) in exports to China during Q1 2020, with exports of fresh fruits and vegetables being the most impacted. Ghanyapad Tantipipatpong, group chairwoman of Thai National Shippers’ Council, told reporters that China was Thailand’s second-largest export market last year, purchasing goods worth $29.2bn, equal to 11.8% of total Thai exports.

Ghanyapad said  that the group expected the virus to cut shipments by 0.11% for 2020, with exports accelerating as soon as the virus crisis passes. He also noted that Thailand might also get more buyers who were seeking to replace Chinese products, she added.