Exports in first 5 months increase by 11.5%

 

FILE photo

 

BANGKOK, 11th July 2018 (NNT) - The Thai export sector expanded by 11.55% in the first five months of 2018, higher than the target of 8% for the whole year, following the global economic recovery. The outstanding growth has made the Department of International Trade Promotion re-assess this year’s export situation. 

Deputy Director-General of the Department of International Trade Promotion Supphat Ongsaengkhun said today that the export sector in the second half of this year still has a positive tendency due to the recovering economies, particularly among Thailand’s important trade partners. 

The department’s executive suggested small entrepreneurs and startups adjust themselves by developing products and expanding their markets to other countries. The department therefore launched a business plan competition to help prepare entrepreneurs for exports.

 

More than 1,250 entrepreneurs are expected to participate in the competition set to take place in five regions across the country, starting in Trang province in August this year. Apart from Trang, the competition will take place in Chiang Rai, Khon Kaen, Chanthaburi and Bangkok. 

Ten entrepreneurs will be selected from the competition to receive in-depth advice on business plans and product development.

 

-- nnt 2018-07-11

7 hours ago, webfact said:

The department’s executive suggested small entrepreneurs and startups adjust themselves by developing products and expanding their markets to other countries.

In other words Prayut's touted success with SME's and startup's has continued to be disappointing in Thailand - they need to go outside the country if they hope to have success.

Baht depreciated sharply during this period adding to the increase in export value. Devil in the detail.