Exports in November grow to record high in six years

 

 

Thai exports continued to grow strongly with a two-digit growth of 13.4% registered last month, making it the highest in six years time.

 

According to the director of the Commerce Ministry’s General Trade Policy and Strategy Office, Ms Pimchanok Vonkorpon, the growth for November was the ninth consecutive month. It rose to 13.4%, the record high in six years.

 

She attributed the export growth to the global economic recovery, particularly in the European Union, US, China, and South Asia which saw the growth of 5.3, 20.7, 16.9 and 41.8 % respectively.

 

Full story: http://englishnews.thaipbs.or.th/export-november-grows-record-high-six-years/

 

 

-- © Copyright Thai PBS 2017-12-23

Good news for Thailand and to see some honesty about why exports have increased. When I read the title I thought here we go Junta claiming their policies are working

31 minutes ago, Dave67 said:

Good news for Thailand and to see some honesty about why exports have increased. When I read the title I thought here we go Junta claiming their policies are working

Yes good news indeed! It fits the junta policy of "never release bad news about the economy".

It is great that exports have done well for just one month. The last time that happened was when Kingsgate exported their remaining gold stocks after Prayut shut down their mine. 

But there could be some export reality on the horizon. The Kasikorn Research Centre which is regarded as a reliable source of economic information has predicted that exports in dollar terms for 2018 will fall by half when compared to 2017.

Either that or there has been some enormous tweeking going on with the 2017 figures.

 

Even at 13% growth how long will it take to get it back to the same level as it was before the coup.If memory serves me right there was very steep decline right after the coup. It like this if in 2013 before the coup  every $100 suddenly dropped tp $30 so at 13% growth how long before $30 makes it way back up to $100.

 

1 hour ago, Cadbury said:

Yes good news indeed! It fits the junta policy of "never release bad news about the economy".

It is great that exports have done well for just one month. The last time that happened was when Kingsgate exported their remaining gold stocks after Prayut shut down their mine. 

But there could be some export reality on the horizon. The Kasikorn Research Centre which is regarded as a reliable source of economic information has predicted that exports in dollar terms for 2018 will fall by half when compared to 2017.

Either that or there has been some enormous tweeking going on with the 2017 figures.

 

Thank goodness USD is not the currency of Thailand!

 

But seriously, for that prediction to come true, Thai exports would have to reduce massively to something like a tenth of what they are today else THB would have to strengthen to around 22 (per USD), the latter being possible but highly unlikely.

 

https://tradingeconomics.com/thailand/exports

Edited December 23, 20178 yr by simoh1490

2 hours ago, simoh1490 said:

Thank goodness USD is not the currency of Thailand!

 

But seriously, for that prediction to come true, Thai exports would have to reduce massively to something like a tenth of what they are today else THB would have to strengthen to around 22 (per USD), the latter being possible but highly unlikely.

 

https://tradingeconomics.com/thailand/exports

Agreed, an horrendous result if it comes true. Perhaps Kasikorn knows something we don't know. Or maybe the junta economic policies are not going all to plan. Time will tell. 

That’s good news but we also need to see the domestic economy grow in tandem. Thailand is too dependent on export for growth and encounter difficulties when global economy soften. Thailand has a large population and existing infrastructures to have a vibrant domestic economy. Thailand should strived to have a 60:40 export and domestic economy rather than the current 80:20.