Thai shippers cut 2019 export outlook to a fall of 2.5%-3.0%

[snoop1130]

Thai shippers cut 2019 export outlook to a fall of 2.5%-3.0%

 

FILE PHOTO: A view of the port of Bangkok, Thailand May 26, 2016. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand's shipping association on Tuesday lowered its 2019 export forecast for the fifth time this year, forecasting a drop of between 2.5% and 3.0% due to global trade tensions and a strong baht THB=TH.

 

In October, it forecast an export decline of 1.5% this year.

 

For next year, exports, a key driver of Southeast Asia’s second-largest economy, are still expected to rise 0-1%, Ghanyapad Tantipipatpong, chairwoman of the Thai National Shippers’ Council, said in a statement.

 

“There are no positive factors but risks,” she said, citing the trade war and the strong baht, which has appreciated 7.6% against the U.S. dollar this year, putting further pressure on export competitiveness.

 

-- © Copyright Reuters 2019-12-03

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You can either beat competitors by price or quality. The latter one TH does not qualify for.

[RichardColeman]

14 hours ago, snoop1130 said:

For next year, exports, a key driver of Southeast Asia’s second-largest economy, are still expected to rise 0-1%, Ghanyapad Tantipipatpong, chairwoman of the Thai National Shippers’ Council, said in a statement.

I'd say that's atleast 0-1% too optimistic

[hotchilli]

15 hours ago, snoop1130 said:

Thailand's shipping association on Tuesday lowered its 2019 export forecast for the fifth time this year, forecasting a drop of between 2.5% and 3.0% due to global trade tensions and a strong baht THB=TH.

PM has it all under control.... his control, there-in lays the problem!

[Isaan sailor]

Until the Baht vs USD goes back to 10-year average—32.40–exports should sink, and sorry to say, I hope they do.  It would prove to the Regime that they have moved too far into the ChiCom’s court.

[bronzedude]

This is good news.