Stronger baht, US-China war still affecting border trade

[webfact]

Stronger baht, US-China war still affecting border trade

By The Nation

 

Adul Chotinisakorn

 

Trade along the borders of Thailand in the first half of this year was worth Bt686 billion, up 1.16 per cent from the same period last year, director general of the Commerce Ministry’s Foreign Trade Department, Adul Chotinisakorn, said on Tuesday. 

 

“We are continuing to boost border trade so it can achieve the Bt1.6-trillion target by the end of the year,” he said. 

 

However, he added that exports accounted for Bt381.7 billion of the total trade, which was 0.98 per cent less from the same period last year, while imports accounted for Bt304.73 billion, recording a 3.97 per cent rise from the same period of last year.

 

The top three countries involved in border trade this year are Malaysia, where transactions in first half valued Bt271.6 billion or 2.43 per cent less from the same period last year, followed by Myanmar worth Bt102.2 billion and Laos worth Bt99.39 billion.

 

Thailand’s exports have dropped due to the appreciation of the baht and the US-China trade war, Adul said. 

 

However, he said he is confident that border trade will achieve the Bt1.6-trillion target by the end of this year thanks mainly to his department’s policy to promote trade in southern border provinces. 

 

The department is also revising its business plan for 2020-2022 by aiming for an average 15-per-cent growth per annum, he said.

 

Source: https://www.nationthailand.com/business/30373906

 

-- © Copyright The Nation Thailand 2019-07-31

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[NightSky]

He's expecting exports to rise 15% per year with a strong baht and a military led nationalistic leadership? 

 

Good luck but I have doubts somehow ????

[Oztruckie]

I wonder if he's aware of the term "pie in the sky"probably not lol

[PhonThong]

9 hours ago, webfact said:

Thailand’s exports have dropped due to the appreciation of the baht and the US-China trade war, Adul said. 

Funny how Vietnam, Cambodia and the Philippines are gaining momentum due to the U.S. China trade war. Thailand needs to look inward more and discover the real truth. Hell, everyone else has! 

[RichardColeman]

9 hours ago, webfact said:

However, he said he is confident

Confident seems to be a popular word in Thailand these days 

[curlylekan]

I may just not know economics well enough, but how does the US-China trade war create a slump in Thailand's exports to China? Is their a raw material sent from the US to China, then to Thailand, then back to China or is there something China needs from the US, that has a direct relationship to what China imports from Thailand? This article needs more information.

[Cadbury]

12 hours ago, webfact said:

Stronger baht, US-China war still affecting border trade

Naughty baht, naughty US and China. 

But good news today! All problems soon to be solved.

PM Prayut will be leading the economic team into the darkness of Thailand's economy.