August exports plunge 4%

 

   

BANGKOK (NNT) - The global economic slowdown, the trade war between China and the United States, tension in the Middle East and the continuous appreciation of the baht made the value of Thai August exports plunge by four percent to 21.91 billion US dollars. Meanwhile imports fell 14.62 percent at 19.86 billion US dollars in the balance of trade.

 

Ms. Phimchanok Wornkhornphorn, Director of the Office of Trade Policy and Strategy, Ministry of Commerce, said today that from January to August, the export value totaled 166.09 billion US dollars, down by 2.19 percent.

 

However, the Ministry of Commerce still says in the last quarter of this year, if the average export value reaches 21billion US dollars per month, the total export value for the year will not have gone down.

 

Previously, the Ministry of Commerce expected Thai exports to grow by three percent or 23.6 billion US dollars a month. However, it might be difficult to reach that target due to many factors which are still not very supportive.

 

She expressed her belief that the guidelines of cooperation between the government and the private sector will be able to maintain the export base.

 

-- © Copyright NNT 2019-09-23

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strong currency affects exports also. no news really, expected

lower imports maybe due to lower demand of fewer  expat commodities, again , no new news

 

Edited September 22, 20196 yr by jastheace

I predict they can spin this into a positive within the next five days!

55 minutes ago, webfact said:

August exports plunge 4%

Ms. Phimchanok is a bit light on detail in this media release so let's fill in the unpleasant gaps for her.

Rice exports plunge 45% y/y, deepest fall since mid-2012.

Strong baht hurt farm shipments. The currency has appreciated 6.8% against the dollar this year.

378% surge in gold exports.

Excluding gold, exports would have slumped 9.8%.

Tapioca slipped 25% and rubber dropped 7.2%.

Cars and car parts fell 12.6%, while electronics dropped 10.5%.

https://www.reuters.com/article/thailand-economy-trade/update-1-thai-august-exports-slump-as-strong-baht-adds-to-trade-war-woes-idUSL3N26B174

 

<deleted>

Edited September 22, 20196 yr by Tayaout

Friday's post:  "Thai exports see 4% drop in August"

Monday's post: "August exports plunge 4%"

Thursday's post: "???"

 

 

2 minutes ago, Nowisee said:

Friday's post:  "Thai exports see 4% drop in August"

Monday's post: "August exports plunge 4%"

Thursday's post: "???"

 

 

Gold export up. 

Does Thailand mine gold?

Can you export something you don't grow/mine/manufacture?

1 minute ago, BritManToo said:

Does Thailand mine gold?

Can you export something you don't grow/mine/manufacture?

They have gold mines. 

1 hour ago, Tayaout said:

They have gold mines. 

Yes they do including a gold mine that doesn't produce anything. It's called Kingsgate. 

I am not surprised with such strong baht.

45% plunge in rice exports is a DISASTER. Same with the Tapioca and rubber.

 

Guess they have to buy more armored vehicles and weapons for the army...

The Thai people feel great pride in the fact their country has never been colonised.  Yet the current regime has signed multiple bi-lateral trade agreements with the ChiComs.  And we’ve witnessed over two years of hot money foreign inflows (from you know who) at Bank of Thailand. It pumps up the Baht, destroys tourism and as we see here it takes a toll on exports.

This begs the question: Has Thailand become a colony of China?

And still the price of my breakfast cereals rises at Tesco/Tops and Big C.

Edited September 23, 20196 yr by mikebell
missing words

I'm really glad that the PM has appointed himself as the head of the economic team. At this rate, he will bankrupt Thailand before the end of his term, and messing with enough people's rice bowls is pretty much the only thing that could lead to his long overdue departure.

1 hour ago, Isaan sailor said:

And we’ve witnessed over two years of hot money foreign inflows (from you know who) at Bank of Thailand. It pumps up the Baht, destroys tourism and as we see here it takes a toll on exports.

This begs the question: Has Thailand become a colony of China?

1st or 2nd qtr 2020 China's fake money and house of cards will start it's fall and will Thailand be going along for the ride. They both deserve the economic landslide that's coming.  HK is a fookin mess, that place is going dark soon.

 

36 minutes ago, Caldera said:

I'm really glad that the PM has appointed himself as the head of the economic team. At this rate, he will bankrupt Thailand before the end of his term, and messing with enough people's rice bowls is pretty much the only thing that could lead to his long overdue departure.

Please wait until the crooked money is safely overseas and after that, the baht will go up.  Just be patient.  

4 hours ago, Tayaout said:

Gold export up. 

so is gold theft.  

1 hour ago, Isaan sailor said:

 

This begs the question: Has Thailand become a colony of China?

 

Maybe not yet but it will soon be bought and paid for so the country will end up bent over a table bracing itself.

 

No surprise. You overthrow democracy , reduce transparency ,

allow soldiers to run the country and this is how it goes.

 

A big round of applause to all the yellow muppets who made this happen. Now they will have to suck it up and everyone else will also have to suffer on account of their ignorance.

7 hours ago, webfact said:

The global economic slowdown, the trade war between China and the United States, tension in the Middle East and the continuous appreciation of the baht made the value of Thai August exports plunge by four percent

The case for global economic slowdown isn't there. The trade war might effect exports if the destination is the US. The middle east is always under tension so why even bring that up? And the artificially inflated Thai Baht will not hold for long with reduced imports & exports and declining tourism. 

More noise from the peanut gallery.

Plunge ?????? 

They are still up 62% from 5 years ago

11 hours ago, Nowisee said:

Friday's post:  "Thai exports see 4% drop in August"

Monday's post: "August exports plunge 4%"

Thursday's post: "???"

 

 

Thursday's post.......''It's all been a terrible misunderstanding' !

Surprising that it is only 4% and not 40% due to the overrated Thai Bhat and the ambient greed in the actors of the local economy.

 

An overrated currency, with dwindling foreign exchange figures due to lack of exports, tourist or retiree/expat expenditure in the country, drop in spending desire of tourists/foreigners due to over charging in the retail market, excessive household debt due to rash bankers lending, overrated prices in real estate where the offer is exceeding the demand but with no buyers.....all is set for a biiiig bubble burst and economy cra$h in Thailand. The only question is .. when ?

Edited September 23, 20196 yr by observer90210

Yes, but the Prime Minister (and therefore his government) wants a high Baht. No Minister has come out and said that the baht is too high and jawboned it down. Either the PM doesn't have a good handle on economics or there are reasons he is comfortable with a high Baht.

 

Whatever, I just wish the government would come out and say what they want to see happen with the Baht (up, down, sideways etc).

14 hours ago, Tayaout said:

They have gold mines. 

Is all that exported gold from there or where did it appear from? Vaults of the folks trying to flee Thailand with their assets before it's too late?

5 hours ago, natway09 said:

Plunge ?????? 

They are still up 62% from 5 years ago

Well you need to climb up before you take the plunge.

16 hours ago, BritManToo said:

Does Thailand mine gold?

Can you export something you don't grow/mine/manufacture?

Yes, the gold diggers. "Export" goes to Isaaaan.

16 hours ago, Cadbury said:

Ms. Phimchanok is a bit light on detail in this media release so let's fill in the unpleasant gaps for her.

Rice exports plunge 45% y/y, deepest fall since mid-2012.

Strong baht hurt farm shipments. The currency has appreciated 6.8% against the dollar this year.

378% surge in gold exports.

Excluding gold, exports would have slumped 9.8%.

Tapioca slipped 25% and rubber dropped 7.2%.

Cars and car parts fell 12.6%, while electronics dropped 10.5%.

https://www.reuters.com/article/thailand-economy-trade/update-1-thai-august-exports-slump-as-strong-baht-adds-to-trade-war-woes-idUSL3N26B174

That's some serious figures. Only a matter of time now before the house of cards starts collapsing. Should be entertaining.

18 hours ago, webfact said:

However, the Ministry of Commerce still says in the last quarter of this year, if the average export value reaches 21billion US dollars per month, the total export value for the year will not have gone down.

Dream on lady !