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Thai August export growth seen slowing to five percent year-on-year

webfact

By webfact
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webfact Grand Master Member

webfact

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Thai August export growth seen slowing to five percent year-on-year

 

2018-09-20T073313Z_1_LYNXNPEE8J0MI_RTROPTP_4_THAILAND-ECONOMY-TRADE.JPG

FILE PHOTO: Cargo ships are pictured near the port in Bangkok, Thailand, March 25, 2016. REUTERS/Athit Perawongmetha/File Photo

 

BANGKOK (Reuters) - Thailand's customs-cleared annual exports may have risen 5 percent in August, a Reuters poll showed, slowing from an 8.27 percent increase in the previous month.

 

Imports in August likely increased 11.1 percent from a year earlier, after rising 10.53 percent in July, according to median forecast of 13 analysts in the poll.

 

Thailand likely recorded a trade surplus of $1.19 billion in August, it showed, compared with July's $0.52 billion deficit.

 

The commerce ministry has forecast exports - a key driver of growth - will rise 8 percent this year, after increasing 9.9 percent last year.

 

(Reporting by Orathai Sriring; Editing by Gopakumar Warrier)

 
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-- © Copyright Reuters 2018-09-20
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BestB Gold Member

BestB

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One thing i do not get with Thai official figures is the logic.

 

Example AUD is very week against THB, same for GBP, USD and Euro,so buying from Thailand is rather more expansive than it was before, yet figures claim more.

 

Same time last year AUD was around 25-26, now its 23-24, so now Aus importers buyer more than they did last year? 

 

A good buddy of mine is one of the largest seafood importers and distributors in Australia, he stopped buying from Thailand because of the increasing costs, i am sure many others did the same thing, but according to this figures, many started to buy more than before

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9KPhalak Rookie Member

9KPhalak

Posted
Posted
51 minutes ago, BestB said:

One thing i do not get with Thai official figures is the logic.

 

Example AUD is very week against THB, same for GBP, USD and Euro,so buying from Thailand is rather more expansive than it was before, yet figures claim more. 

Sorry, but I beg to differ.  Currently USD is strong against the Baht.  Approximately 32.5 baht per USD.  This will make trade with Thailand more economical for the United States.  So Thai exports to the US should increase as long as these values hold.  As with the 5% growth?  I wish we could be so lucky.

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BestB Gold Member

BestB

Posted
Posted
10 minutes ago, 9KPhalak said:

Sorry, but I beg to differ.  Currently USD is strong against the Baht.  Approximately 32.5 baht per USD.  This will make trade with Thailand more economical for the United States.  So Thai exports to the US should increase as long as these values hold.  As with the 5% growth?  I wish we could be so lucky.

32.50 is hardly strong, when it was over 33 already not too long ago.

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9KPhalak Rookie Member

9KPhalak

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5 minutes ago, BestB said:

32.50 is hardly strong, when it was over 33 already not too long ago.

A half of baht difference.  Big deal.  My point is that the baht is weak and therefore time to trade.  When if ever have you seen it over 33.  I would say never.  At least not for very long.  I've been following the baht since the early 2000's, I've seen it over 33 briefly one time.  Currently the USD is considered strong in Thailand. 

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BestB Gold Member

BestB

Posted
Posted (edited)
1 hour ago, 9KPhalak said:

A half of baht difference.  Big deal.  My point is that the baht is weak and therefore time to trade.  When if ever have you seen it over 33.  I would say never.  At least not for very long.  I've been following the baht since the early 2000's, I've seen it over 33 briefly one time.  Currently the USD is considered strong in Thailand. 

Your point is wrong , baht is not weak 

 

how the hell have you been following for 18 years and seen it briefly over 33 when it was 40 and over. 

 

Best you stop to respond as it appears you living on some alternate universe .

 

https://www.reuters.com/article/thailand-economy-exports/strong-baht-higher-wages-may-slow-thai-2018-export-growth-to-3-5-pct-shippers-idUSL4N1PW26P

Edited by BestB
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simoh1490 Senior Member

simoh1490

Posted
Posted
2 hours ago, 9KPhalak said:

Sorry, but I beg to differ.  Currently USD is strong against the Baht.  Approximately 32.5 baht per USD.  This will make trade with Thailand more economical for the United States.  So Thai exports to the US should increase as long as these values hold.  As with the 5% growth?  I wish we could be so lucky.

https://www.xe.com/currencycharts/?from=USD&to=THB&view=10Y

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Jimbo in Thailand Apprentice Member

Jimbo in Thailand

Posted
Posted
2 hours ago, 9KPhalak said:

Sorry, but I beg to differ.  Currently USD is strong against the Baht.  Approximately 32.5 baht per USD.  This will make trade with Thailand more economical for the United States.  So Thai exports to the US should increase as long as these values hold.  As with the 5% growth?  I wish we could be so lucky.

Are you nuts?  $32.5/dollar is NOT strong.  When I decided to retire here in late 2004 it was 42 baht/US dollar.  Not only that, spiraling inflation here since then, courtesy of former PM Abhisit's inflationary frequent government-mandated commodities price increases, is crippling to many expats, and there's no relief in sight.

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janclaes47 Senior Member

janclaes47

Posted
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On 9/20/2018 at 2:36 PM, webfact said:

Thai August export growth seen slowing to five percent year-on-year

But they hadn't thought about the creative accountants the Thai government employs

 

The total value of Thailand's exports rose 6.7 per cent year on year to US$22.79 billion (Bt1.23 trillion) in August, recording continuous growth for 18 months, according to the Ministry of Commerce.

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9KPhalak Rookie Member

9KPhalak

Posted
Posted
3 hours ago, Jimbo in Thailand said:

Are you nuts?  $32.5/dollar is NOT strong.  When I decided to retire here in late 2004 it was 42 baht/US dollar.  Not only that, spiraling inflation here since then, courtesy of former PM Abhisit's inflationary frequent government-mandated commodities price increases, is crippling to many expats, and there's no relief in sight.

Hey! News Flash!  It's 2018 now.

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Rhys Platinum Member

Rhys

Posted
Posted
19 hours ago, BestB said:

One thing i do not get with Thai official figures is the logic.

 

Example AUD is very week against THB, same for GBP, USD and Euro,so buying from Thailand is rather more expansive than it was before, yet figures claim more.

 

Same time last year AUD was around 25-26, now its 23-24, so now Aus importers buyer more than they did last year? 

 

A good buddy of mine is one of the largest seafood importers and distributors in Australia, he stopped buying from Thailand because of the increasing costs, i am sure many others did the same thing, but according to this figures, many started to buy more than before

... This is TIT  where they just make it up and it is thus....

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