Thai economy continued to expand in October: BoT

[webfact]

Thai economy continued to expand in October: BoT

By Thai PBS

 

 

Thai economy for the month of October continued to grow in correspondence with expansion in exports, tourism and spending of the government sector, said Mr Don Nakornthab, senior director of the Bank of Thailand’s Economic and Policy Department.

 

Exports expanded 13.4 percent while tourism expanded 20.9 percent for the month of October compared to the same period last year when tourism dropped as a result of the government’s crackdown on the zero-dollar tour, said Mr Don on Thursday (Nov 30), adding that spending of the government sector upped 4.7 percent, excluding overseas money transfers, with investment spending expanding 15.1 percent.

 

Production of the industrial sector remained stable due to the fact that there were several holidays in October and the fact that it was the month of national mourning over the Royal Cremation of the late King Bhumibol.  Overall industrial production index dropped 0.1 percent with substantial drop in the production of air-conditioners due to cool weather.

 

Full story: http://englishnews.thaipbs.or.th/thai-economy-continued-expand-october-bot/

 

-- © Copyright Thai PBS 2017-12-01

[LazySlipper]

13 minutes ago, webfact said:

Exports expanded 13.4 percent while tourism expanded 20.9 percent for the month of October

 

Considering how the Thai bht is so high, this really makes me wonder whether the gvt is playing around with statistics... 

 

 

[Sid Celery]

23 minutes ago, LazySlipper said:

 

Considering how the Thai bht is so high, this really makes me wonder whether the gvt is playing around with statistics... 

 

 

 

Could be right.

 

The Thai economy is in the toilet, while other ASEAN countries appear to be doing quite well, Vietnam enjoying 6-7% annual growth I think I read.

 

How Somkid has kept his job I don't know, though he looks the part if nothing else. That's probably it. The THB has got stronger in the past few days - today it's 32.8+. I bet the good generals are pulling out what hair they've got left. I'd buy a ticket to see that...

 

[Media1]

The laughs just keep coming

[simoh1490]

7 hours ago, Sid Celery said:

 

Could be right.

 

The Thai economy is in the toilet, while other ASEAN countries appear to be doing quite well, Vietnam enjoying 6-7% annual growth I think I read.

 

How Somkid has kept his job I don't know, though he looks the part if nothing else. That's probably it. The THB has got stronger in the past few days - today it's 32.8+. I bet the good generals are pulling out what hair they've got left. I'd buy a ticket to see that...

 

Perhaps you can expand on or explain the first part of what you wrote, I guess we'd all like to know the real story about the economy!

[Sid Celery]

6 minutes ago, simoh1490 said:

Perhaps you can expand on or explain the first part of what you wrote, I guess we'd all like to know the real story about the economy!

No pressing need to expand on it or explain it. You either think as I do or you don't, not my job to persuade, merely my job to express an opinion and either learn from others or not, depending upon their reaction to it.

 

If you want to know the real story, then I'm afraid you'll need to do some reading, but I appreciate you speaking on behalf of everyone. I'm sure they do as well.

 

 

[simoh1490]

25 minutes ago, Sid Celery said:

No pressing need to expand on it or explain it. You either think as I do or you don't, not my job to persuade, merely my job to express an opinion and either learn from others or not, depending upon their reaction to it.

 

If you want to know the real story, then I'm afraid you'll need to do some reading, but I appreciate you speaking on behalf of everyone. I'm sure they do as well.

 

 

Thanks Sid. It's just that I do understand quite a bit about the Thai economy, I was just wondering how come you think it's in the toilet, either you know something we don't or you're just bashing for the sake of it and because you don't know any better.

[Sid Celery]

Just now, simoh1490 said:

Thanks Sid. It's just that I do understand quite a bit about the Thai economy, I was just wondering how come you think it's in the toilet, either you know something we don't or you're just bashing for the sake of it and because you don't know any better.

 

Sorry friend, this isn't my day for rising to bait. I don't feel the need and I have nothing to prove. If you think the Thai economy is picketyboo then good luck to you - enjoy your day.

[lannarebirth]

Looks lik the Thai economy is firing on all cylinders but one, domestic consumption.  And that's the one that matters most in the long run. Hopefully that will pick up as well.

[Srikcir]

9 hours ago, webfact said:

adding that spending of the government sector upped 4.7 percent, excluding overseas money transfers, with investment spending expanding 15.1 percent.

Truly amazing as...

• Manufacturing production remained unchanged due to temporary factors. (???)
• Private investment and private consumption grew at a slower pace.
  https://www.thaivisa.com/forum/topic/1013818-tourists-and-exports-drove-thai-economic-expansion-in-october/?utm_source=newsletter-20171201-0642&utm_medium=email&utm_campaign=news

Thailand's economy is now truly "magical."

 

 

[simoh1490]

26 minutes ago, lannarebirth said:

Looks lik the Thai economy is firing on all cylinders but one, domestic consumption.  And that's the one that matters most in the long run. Hopefully that will pick up as well.

I agree, the important numbers actually look quite good, even if anecdotal evidence confuses some people. I see also that FCY Reserves have now topped USD 200 bill., that combined with low debt levels must make Western economies very envious.

[Eric Loh]

2 hours ago, simoh1490 said:

I agree, the important numbers actually look quite good, even if anecdotal evidence confuses some people. I see also that FCY Reserves have now topped USD 200 bill., that combined with low debt levels must make Western economies very envious.

Agree with you that the foreign reserve have grown to 200 B USD, a 2% improvement from 2012 and gone south since the coup but glad it recover along with positive global recovery and soft oil price. Debt to GDP hover at 50% seem rather poorly managed when previous years are at an average of low 40%. It looks like peaking at high 50 soon with all the infrastructure spending. Still better than the west but who cares about them. Better economy should benefit the citizens but seem not equally shared. 

[Cadbury]

3 hours ago, simoh1490 said:

Perhaps you can expand on or explain the first part of what you wrote, I guess we'd all like to know the real story about the economy!

Perhaps you could explain why you disagree. Pipe smoking fireside armchair critic I think.

[simoh1490]

26 minutes ago, Eric Loh said:

Agree with you that the foreign reserve have grown to 200 B USD, a 2% improvement from 2012 and gone south since the coup but glad it recover along with positive global recovery and soft oil price. Debt to GDP hover at 50% seem rather poorly managed when previous years are at an average of low 40%. It looks like peaking at high 50 soon with all the infrastructure spending. Still better than the west but who cares about them. Better economy should benefit the citizens but seem not equally shared. 

a 10% improvement from 2012!

 

http://www2.bot.or.th/statistics/ReportPage.aspx?reportID=80&language=eng

 

Debt to GDP is poorly managed at 50%!  Please, if you want to find a reason to bash Thailand, find something that has a basis in which to do so.https://en.wikipedia.org/wiki/List_of_countries_by_public_debt

[simoh1490]

11 minutes ago, Cadbury said:

Perhaps you could explain why you disagree. Pipe smoking fireside armchair critic I think.

You get the same response I was given to my probe on this subject....go bait somebody else, I'm not interested!

[coulson]

13 hours ago, webfact said:

Exports expanded 13.4 percent while tourism expanded 20.9 percent for the month of October

No way any way any how.

 

Thb is too strong, tourism is too low albeit maybe an interest in the royal cremation site, otherwise it's a very very slow October/November compared to previous high seasons.

 

Picking numbers out of the sky as usual.

[Eric Loh]

1 hour ago, simoh1490 said:

a 10% improvement from 2012!

 

http://www2.bot.or.th/statistics/ReportPage.aspx?reportID=80&language=eng

 

Debt to GDP is poorly managed at 50%!  Please, if you want to find a reason to bash Thailand, find something that has a basis in which to do so.https://en.wikipedia.org/wiki/List_of_countries_by_public_debt

What is your reason for comparing other other countries. Is your logic that since most weathy nations have debt to gpd figure above 100%, Thailand is better managed than them? 

[Media1]

7 hours ago, simoh1490 said:

Perhaps you can expand on or explain the first part of what you wrote, I guess we'd all like to know the real story about the economy!

Easy answer army with not a clue or care in the world 

[simoh1490]

4 hours ago, Eric Loh said:

What is your reason for comparing other other countries. Is your logic that since most weathy nations have debt to gpd figure above 100%, Thailand is better managed than them? 

I'm not going to argue with you, again, Eric that the junta's spending of 2% of GDP on military hardware is entirely valid and is significantly less than that of neighbouring countries, get over it! The GDP/debt ratio is far lower than most other countries, combined with tourism, export and foreign currency reserves statistics, the Thai economy is in good shape. 

[simoh1490]

8 hours ago, coulson said:

No way any way any how.

 

Thb is too strong, tourism is too low albeit maybe an interest in the royal cremation site, otherwise it's a very very slow October/November compared to previous high seasons.

 

Picking numbers out of the sky as usual.

Most Westerners, even many who live here, either wouldn't easily recognise Asian/Far Eastern tourists or don't even see them in the first place. Many Westerners still cling to the belief that only Western tourists count and it's only they who have spending power, in truth, the obverse is correct. I live in CM and we see plenty of tourists, last weekend we were in Bangkok for three days and there's plenty there also, too many for my liking.

 

As for the strength of THB - I was predicting 40 baht per Pound for several years, that at a time when it was 60, and 50 Baht per Pound, I currently expect THB to end somewhere in the mid 30's in the next five years.

[steven100]

And the Thai bashers won't agree as usual .....     it gets a bit boring after a while  

 

really don't know why you even come to Thailand ...   you know everything is going down the toilet . !

[PatOngo]

28 minutes ago, steven100 said:

And the Thai bashers won't agree as usual .....     it gets a bit boring after a while  

 

really don't know why you even come to Thailand ...   you know everything is going down the toilet . !

Cigarettes are still cheap!

[wakeupplease]

I think I know where all these figures come from, alcohol being drank on the job

[anon537687643]

Economy going down the crapper


Sent from my iPhone using Thaivisa Connect

[Srikcir]

5 hours ago, simoh1490 said:

the Thai economy is in good shape. 

I agree with the junta that the economy is now back to the last economic highs seen in 2012. Albeit three years lost GDP,  40% debt to GDP and the highest household debt rates.

When Prayut placed himself in power in 2014 he declared that he would only stay for a year and not create additional national debt. Eventually, he brought in former PTP financial expert Somkid to reverse inept economic policies (but no control over certain ministers) and lead the economic recovery.

"the Thai economy is in good shape" - to what end? For sustainable growth or simply a status quo? Prayut's Cabinet shuffle indicates concern for the former and dissatisfaction for the latter. - there is risk to economic performance with the Prayut regime that favors absolute power to implement government decisions.

[simoh1490]

3 minutes ago, Srikcir said:

I agree with the junta that the economy is now back to the last economic highs seen in 2012. Albeit three years lost GDP,  40% debt to GDP and the highest household debt rates.

When Prayut placed himself in power in 2014 he declared that he would only stay for a year and not create additional national debt. Eventually, he brought in former PTP financial expert Somkid to reverse inept economic policies (but no control over certain ministers) and lead the economic recovery.

"the Thai economy is in good shape" - to what end? For sustainable growth or simply a status quo? Prayut's Cabinet shuffle indicates concern for the former and dissatisfaction for the latter. - there is risk to economic performance with the Prayut regime that favors absolute power to implement government decisions.

I don't think you should compare the economy today against what it might have been now, had there not been a coup etc., I think you should compare the economy against others both in the region and globally.