Commerce Ministry confident of 3 percent export growth for 2019

 

 

Thailand’s Commerce Ministry is confident that Thai exports for the second half of this year will grow at a higher rate than in the first half and export growth for the whole year will not be as bad as initially forecast by the Bank of Thailand and the economic research departments of commercial banks.

 

Mr. Lawaron Saengsanit, director of the Fiscal Policy Office, said today that the Commerce Ministry is confident that the export stimulus package, introduced by the ministry, and the easing of US-China trade war will help boost Thai export growth to an estimated 3% for the whole year.

 

He said the Fiscal Policy Office had developed economic stimulus measures for the new government to consider, with the emphasis on encouraging private sector consumption, adding that investments and export growth can help boost economic growth, albeit rather slowly.

 

Full story: https://www.thaipbsworld.com/commerce-ministry-confident-of-3-percent-export-growth-for-2019/

 

 

-- © Copyright Thai PBS 2019-07-05

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Commerce Ministry ,Bank of Thailand and Commercial banks. Far to many cooks in the counting activities, to even be considered any confidence at all.

Nothing better than the Coue method, (Autosuggestion)

 

https://en.wikipedia.org/wiki/Autosuggestion

 

This gentleman who is completely outside the reality on the field is even stronger than the boss of the TAT

Going down, Going down, Going down. (To be sung - it's a football chant.)

Edited July 5, 20197 yr by mikebell
omission.

2 hours ago, Matzzon said:

Commerce Ministry ,Bank of Thailand and Commercial banks. Far to many cooks in the counting activities, to even be considered any confidence at all.

I don't believe anything either of these two predict. TAT predictions would be more interesting.

To quote from Trading economics...

Exports from Thailand declined by 5.79 percent year-on-year to USD 21.02 billion in May 2019, worse than market estimates of a 3.6 percent drop and faster than a 2.57 percent fall in the previous month. This marked the third straight month of yearly drop in overseas sales........The government recently revised lower 2019 export growth outlook to 2.2 percent from an earlier projection of 4.1 percent.

So their new guesstimate/hopetimate is now 3%. 

By comparison Trading Economics have this to say about Vietnam........

Exports from Vietnam increased 8.8 percent......

https://tradingeconomics.com/thailand/exports

From another source......

Vietnam has climbed the US import chart to 8th position in the first four months of 2019. Ranked 12th for the same period last year, it has leapt over Ireland, Italy, India and France so far this year.

 

This story is an enlightening read for those interested in Asian commerce and trade.

https://www.lowyinstitute.org/the-interpreter/vietnam-shapes-key-winner-us-china-trade-war

Yet in a report the other day it stated exports had taken a 60 billion hit due to the strength of the Baht,

.

I'm confident there will be a big, fat ➖