Thai October exports fall 5% year on year, current account surplus narrows - central bank

 

FILE PHOTO: Thailand's central bank is seen at the Bank of Thailand in Bangkok, Thailand April 26, 2016. REUTERS/Jorge Silva/File Photo

 

BANGKOK (Reuters) - Thailand's October current account surplus was $2.91 billion versus $3.53 billion in September, the central bank said on Friday.

 

Exports contracted 5% from a year earlier, after falling 1.5% in September.

 

Imports fell 9.2% from a year earlier, after declining 4.5% in September.

 

The October trade surplus was $2.09 billion, compared with September's $2.69 billion surplus.

 

Private consumption in October rose 1.1% from the previous month, while private investment was up 1.7%.

 

-- © Copyright Reuters 2019-11-29

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So the current account surplus fell .6 billion baht in just one month....keep going at this rate and nothing will be left in a few months time....

Oh dear that's a disaster terrible news a catastrophe hip hip hooray???? 

Exports and tourism are contracting for one simple reason ... the high baht (maybe the officialdom fascism too). As long as it stays like this then it will continue to decline, but the elites don't care as it benefits their plan. The BoT is under orders from a very select few people and until they have satiated their greed nothing will change. I only hope that the international markets everntually catch them out and screw them over for being such douchebags.

1 hour ago, petermik said:

So the current account surplus fell .6 billion baht in just one month....keep going at this rate and nothing will be left in a few months time....

The numbers are in USD. 

Will all this negative news affect the THB.....?

regards worgeordie

Dear oh dear! Things are looking very bleak.

Everything going downhill since Khun Prayut Chan-o-cha usurped the duties of Deputy Prime Minister Somkid Jatusripitak as head of the government's economic team.

Somkid now has been relegated to the equivalent of a used car salesman by trying to drum up foreign investment for the EEC .

I thought before he did a reasonable job and presented well. But maybe economically wet behind the ears inexperienced military generals can do better?

Time to call the teflon economy-bluff. 

Nick Lesson got away with it for years...then the bank was sold for a quid...same same what's happening here, wake up to Blomberg one morning for the news. Problem being, with the Baht crashing, it won't help tourism, exports or investment for years to come if at all.

Time for the Casino's .....Las Thailand baby...

What’s the Ayatollah, RocknRolla of the economy Prayut going to do about it ?

Order ?

Demand?

Encourage?

Or spit the dummy ?

There is no need to worry folks, little P will soon order his minions to fix the problems in 7 days.

Blame it on the Farang like you normally do 

Please continue in the new updated topic now running here:

 

 

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