Popular Post webfact Posted November 5, 2019 Popular Post Share Posted November 5, 2019 Exports, imports witness drop in September By THE NATION Thailand’s exports in September shrank 1.4 per cent year on year to US$20.48 billion (Bt617.5 billion), while imports dropped 4.2 per cent to $19.20 billion, according to a statement from the Thai National Shipper’s Council today (November 5). This resulted in Thailand’s trade surplus being $1.275 billion. Exports during the January-September period also fell 2.1 per cent year on year to $186.572 billion, while imports declined 3.7 per cent to $179.19 billion, which resulted in a trade surplus of $7.381 billion. The council has maintained its forecast of export decline of 1.5 per cent this year on the assumption that the baht value will be around 33 per US dollar. It has also maintained the forecast that exports will grow between zero and one per cent next year on the assumption that the baht value will be 30.50 per dollar. Among the existing risk factors are the continued decline of the global economy and the possible impact from the US decision to suspend the Generalised System of Preferences (GSP) granted to some Thai export products. US Secretary of Commerce Wilbur Ross said in Thailand on Monday that the suspension of tariff privileges under the GSP is “not a big deal” as it represents only $1.3 billion of Thailand’s $4.4-billion exports under the GSP to the United States and is a small fraction of total Thai exports. He said the two countries still have time to discuss the underlying issue of workers’ rights before the removal of GSP takes effect in April next year. The commerce secretary was in Bangkok to give a keynote address at the Indo-Pacific Business Forum. Source: https://www.nationthailand.com/business/30378079 -- © Copyright The Nation Thailand 2019-11-05 Follow Thaivisa on LINE for breaking Thailand news and visa info 4 Link to comment Share on other sites More sharing options...
Popular Post kingofthemountain Posted November 5, 2019 Popular Post Share Posted November 5, 2019 (edited) and it's just the beginning Edited November 5, 2019 by kingofthemountain 7 Link to comment Share on other sites More sharing options...
Popular Post Jimbo in Thailand Posted November 5, 2019 Popular Post Share Posted November 5, 2019 27 minutes ago, webfact said: The council has maintained its forecast of export decline of 1.5 per cent this year on the assumption that the baht value will be around 33 per US dollar. It has also maintained the forecast that exports will grow between zero and one per cent next year on the assumption that the baht value will be 30.50 per dollar. Am I missing something here? So Thai exports are expected to decline on a weaker 33 baht/USD but... exports will grow on a stronger 30.50 baht/USD? WHAT THE [expletive deleted]?!!! It just boggles the mind where they come up with this sh*t, don't it? ???????????????? As usual... T. I. T. 8 5 Link to comment Share on other sites More sharing options...
Popular Post Scot123 Posted November 5, 2019 Popular Post Share Posted November 5, 2019 Just so confusing. So many Mou, so many foreign companies lining up to move to Thailand and build big factories, the Baht so very high but then large factories closing down with thousands losing their jobs, 4 years ago a massive exodus of foreign investment left the country, exports down inports now down shrinking condo market but still building new high priced condos.. I think someone's telling porkies.... 8 3 Link to comment Share on other sites More sharing options...
Popular Post mok199 Posted November 5, 2019 Popular Post Share Posted November 5, 2019 In a land with so so many Hubs , how is this possible??? 11 Link to comment Share on other sites More sharing options...
Popular Post Lamkyong Posted November 5, 2019 Popular Post Share Posted November 5, 2019 what no BREXIT TO INCLUDE /BLAME??? 6 Link to comment Share on other sites More sharing options...
Fred white Posted November 5, 2019 Share Posted November 5, 2019 2 hours ago, Jimbo in Thailand said: Am I missing something here? So Thai exports are expected to decline on a weaker 33 baht/USD but... exports will grow on a stronger 30.50 baht/USD? WHAT THE [expletive deleted]?!!! It just boggles the mind where they come up with this sh*t, don't it? ???????????????? As usual... T. I. T. Unless they're talking about value Link to comment Share on other sites More sharing options...
Popular Post xbusman Posted November 6, 2019 Popular Post Share Posted November 6, 2019 I get the shrinking exports, the baht strength is going to do serious damage our manufacturing economy for a long time to come even if it corrected soon, which I doubt. The Shippers council has to beat the drum about growing exports next year in line with the official statements but when the camera turns off you can bet they are running for the exits. The much more worrying statement is that with the grossly over valued baht, imports are dropping even faster. That is counter intuitive and hints at far more serious structural problems, it is a shame we are unable to dig into those numbers further. I am guessing that debt, already very problematic, has ballooned beyond the very concerning levels earlier in the year. It could also be that construction has shut down more extensively than is apparent. Construction being the largest non essential importer. Just guessing out loud, I bet construction accounts for as much as 15% of all Thai imports so it could easily account for a 5% drop if the brakes are applied. 5 Link to comment Share on other sites More sharing options...
Isaan sailor Posted November 6, 2019 Share Posted November 6, 2019 thailand holds hands with the ChiComs, and walks lockstep. Do they really wonder why exports and imports tanked? 1 Link to comment Share on other sites More sharing options...
30la Posted November 6, 2019 Share Posted November 6, 2019 The spiral continues to turn down and the government seems that it doesn't notice or doesn't care! 1 Link to comment Share on other sites More sharing options...
DrTuner Posted November 6, 2019 Share Posted November 6, 2019 3 hours ago, xbusman said: The much more worrying statement is that with the grossly over valued baht, imports are dropping even faster. Must be all the imported cheese and wine that the now extinct expats ate and drank. 1 Link to comment Share on other sites More sharing options...
Cadbury Posted November 6, 2019 Share Posted November 6, 2019 23 hours ago, webfact said: ....on the assumption that the baht value will be around 33 per US dollar They shouldn't call it an assumption; they should call it a prayer. It is currently at 30.34 and other more competent forecasters than the Thai National Shipper's Council are predicting it will move into the 29/28 area after the new year. They are going to need more than infantile free money stimulus campaigns such as "eat, shop, spend, go on holidays". 1 Link to comment Share on other sites More sharing options...
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