Thailand's Exports in Decline

 

According to TradingEconomics.com, Thailand’s exports are on a steady decline. Compared to October last year,  exports have shrunk by 4.54% down to USD 20.76 billion in October 2019. 

 

Exports to China represented $30.2 billion of Thailand’s exports last year and have since declined by 4.2% ($1.3 billion). Exports to the US, however, have grown by 4.8% ($1.4 billion) and cover the loss of exports to China, demonstrating that neither country is the sole cause of the deficit.

 

 

(source)

 

Oil, however, isn’t the only commodity to have declined year-on-year; rice, tapioca products, natural rubber, prawns, oil-related products, iron, steel, iron and steel-related products, television sets and TV parts have all been negatively affected.

 

Pimchanok Vonkorporn, director-general of the Ministry of Commerce’s Trade Policy and Strategy Office, blames dwindling oil prices and other countries’ economic struggles.

 

Indeed, crude oil prices have been particularly volatile, dropping as low as almost half of the 2014 average (~$55 vs ~$100). Oil prices are most influenced by decisions made by OPEC so are largely out of Thailand’s control.

 

Pimchanok fears that Thailand’s exports will continue to decline in 2020 as other countries show progressive symptoms of sluggish economies, oil prices slump and the baht continues to surge.

 

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And not likely to recover any time soon with the current set of miscreants running the show.

 

All those fools taking to the streets during shutdown Bangkok

should now be able to see the results of their actions.

Blame everyone and everything but Thailand

Thailand is the only developing ASEAN country with a GDP growth of a developed one. Technically in a recession already.

Military morons can maybe run a country at fair weather conditions, but are planned to fail at the very first storm.

Pimchanok Vonkorporn, director-general of the Ministry of Commerce’s Trade Policy and Strategy Office, blames dwindling oil prices and other countries’ economic struggles.

 

My company is was a big player in prawns in the Thai Market. I would like to inform Mr Vonkorporn that my imports have increased steadily over the past few years but I am not buying from Thailand anymore. Don't blame it on economic struggles, blame it on your own governments incompetence. Whilst the Baht is so strong, companies will move their sourcing.

 

And worse is to come, some companies are still stuck in long-term contracts, once they expire they will be looking elsewhere. It will be interesting to see the figures next year.

 

5 hours ago, ThaivisaSales said:

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Great chart ...... no explanation at all of the numbers,

are the percentages increases or decreases?

between what year or years?

5 hours ago, BritManToo said:

Great chart ...... no explanation at all of the numbers,

are the percentages increases or decreases?

between what year or years?

 

It's all open to interpretation ????

Wow, who could have seen this coming ????

Good news week.

17 hours ago, ukrules said:

Wow, who could have seen this coming ????

Well we know who hasn't nor will ever see.... ????

On 11/26/2019 at 4:00 PM, CLS said:

Thailand is the only developing ASEAN country with a GDP growth of a developed one. Technically in a recession already.

Military morons can maybe run a country at fair weather conditions, but are planned to fail at the very first storm.

May one wonder if a government, say with Pheu Thai, doling out popular gifts, might do any better?

The problem is the rising Baht, generated by gambling with the currency, resulting in a decline of many things.

Should we forget the worldwide slump, as if local governments have any power to do something about it?

It is just so easy to blame the current government and forgetting about the former TS and YS governments.

Jesus, who would buy a Thai nuclear reactor?

On 11/26/2019 at 3:30 PM, Denim said:

And not likely to recover any time soon with the current set of miscreants running the show.

 

All those fools taking to the streets during shutdown Bangkok

should now be able to see the results of their actions.

Those fools were hired by those miscreants.

As I have already mentioned in the past, the only important thing for you is to tell lies, and you have not yet realized that no one believes it anymore!
Mostly the fault of your beloved Baht, your economy is approaching the abyss ... ups, sorry but it's already falling!