The market share of Thai-made products edged lower to 1.3%, so it is necessary to create more value-added products to compete against rivals, he said. The Fiscal Policy Office earlier slashed its forecast for economic growth this year to 3% from 3.7% projected in April, assuming that exports will contract 4%. The Bank of Thailand is more pessimistic. It cut economic growth for 2015 and 2016 to 2.7% from 3% and to 3.7% from 4.1%, respectively, assuming exports will shrink 5% this year and rise 1.2% next year.