Exports boom in October, exceeding target

By The Nation

 

Thai exports rebounded in October from last month’s contraction, reaching US$21.8 billion in value and registering 8.7 per cent growth.

 

Export value for the first 10 months of 2018 expanded 8.2 per cent from the same period last year, exceeding the government target of 8 per cent.

 

The value of imports in October increased 11.2 per cent to $22 billion, resulting in a trade deficit of $280 million. For the first 10 months of 2018, the value rose 14.8 per cent to $208.9 billion, bringing a trade surplus of $2.559 million.

 

Thai exports in matured and dynamic markets expanded continuously. Exports to Japan, India, Asean-5 and CLMV grew 18.7, 12, 24.4 and 18.2 per cent, respectively. 

 

Exports to the US maintained the positive momentum of the last three months at 7.2 per cent, the highest in six months. 

 

Exports to China are now back on track with positive growth at 3 per cent, but exports to other markets showed slight contraction, especially Australia, the Middle East, Latin America and Russia.

 

Industrial products returned to growth this month, reaching 6.8 per cent, led by exports of oil-related products (29.1 per cent) and gold (240.8 per cent), whose price rose significantly from last year. 

 

Other high-performance products were jewels and accessories (excluding gold) (up 21.1 per cent) and telephones and parts (33.7 per cent). 

 

Some products dropped slightly, such as automobiles and parts (down 8.9 per cent), computers and components (4.9 per cent), electronics circuits (8.8 per cent) and washing machines and parts (40.2 per cent). 

 

For the first 10 months of 2018, exports of industrial products rose 7.9 per cent. 

 

Agricultural and agro-industrial products expanded 12.2 per cent, led by most agricultural products such as sugar (up 77.8 per cent), rice (28.2 per cent), cassava products (18.5 per cent), frozen and processed chicken (15.6 per cent), and frozen and processed fruits and vegetables (10.6 per cent). However, rubber is still on a decreasing trend in both price and volume, and contracted 19.1 per cent. 

 

For the first 10 months of 2018, exports of agricultural and agro-industrial products expanded 4.3 per cent. 

 

The Ministry of Commerce is confident that export growth in 2018 will exceed the target of 8 per cent, supported by robust growth in major trading partners’ economies in Q3. 

 

American private consumption grew steadily in response to recovery of the labour market, which would benefit Thai exports of consumer goods.

 

Economic growth in the EU, China and Japan is promising despite downside risks in their domestic fronts. 

 

To promote export growth for the rest of 2018 and 2019, the ministry has prepared export and investment promotion schemes utilising the key strengths of product diversity and competitiveness. These will be customised to each market.

 

Source: http://www.nationmultimedia.com/detail/business/30359008

 

-- © Copyright The Nation 2018-11-21

Lies, damned lies, and statistics

1 minute ago, BigBadGeordie said:

Lies, damned lies, and statistics

can we assume you have the correct figures? if yes, do tell us please.

The Spin Starts Here !

7 minutes ago, Naam said:

can we assume you have the correct figures? if yes, do tell us please.

Touché

Confident of 8% growth......they think the rest of the world doesn't know these are lies.

Foreign investment keeps being withdrawn now at $84m this year!

They are so good in figures and even some believes them. We will see if the bath gets weaker or not.

 

4 hours ago, webfact said:

Thai exports rebounded in October from last month’s contraction,

Can anybody please explain as there appears some confusion in the statement.  If the bounce back took place in October, and it is now November when was "last month?"  Just curious.

 

22 minutes ago, RotMahKid said:

We will see if the bath

Which bath are you talking about?  Still curious.

 

'nuf sed

Quote

Some products dropped slightly, such as automobiles and parts (down 8.9 per cent)

That's lightly? Isn't this one of their EEC targets, not agri products? 

Dear junta, No one's buying these numbers anymore. Please stop already.

double post deleted

Edited November 21, 20187 yr by jessebkk1

Maybe i am misreading or not understanding something but just 2-3 days ago Reuters was reporting export decline , now its claiming growth.

22 hours ago, ChrisY1 said:

Confident of 8% growth......they think the rest of the world doesn't know these are lies.

Foreign investment keeps being withdrawn now at $84m this year!

the amount of $ 84,000,000.- equals chickensh*t! here's the beef:

 

Quote

Thailand's Foreign Direct Investment (FDI) increased by 2,300,000,000.- USD in Jun 2018, compared with an increase of 4,600,000,000.- USD in the previous quarter.

 

https://www.ceicdata.com/en/indicator/thailand/foreign-direct-investment